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Worker Identity, Employment Fluctuations and Stabilization Policy

Snower, Dennis J. - 2013

This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...

Persistent link: https://www.econbiz.de/10013080876

The Macroeconomics of the Labor Market : Three Fundamental Views

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2021

We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

Persistent link: https://www.econbiz.de/10013317303

The Caring Hand that Cripples : The East German Labor Market after Reunification (Detailed Version)

Snower, Dennis J. - 2006

, and unemployment arising from the decline of the tradable sector …

Persistent link: https://www.econbiz.de/10012780355

An Incentive Theory of Matching

Brown, Alessio J.G. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...

Persistent link: https://www.econbiz.de/10013160145

The Evolution of Inflation and Unemployment : Explaining the Roaring Nineties

Karanassou, Marika - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties …

Persistent link: https://www.econbiz.de/10012776513

Phillips Curves and Unemployment Dynamics : A Critique and a Holistic Perspective

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2021

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate … compatible with inflation stability, another one determines the real economic factors that drive the natural rate of unemployment …

Persistent link: https://www.econbiz.de/10013317465

A Theory of Wage Adjustment Under Loss Aversion

Ahrens, Steffen - 2015

We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...

Persistent link: https://www.econbiz.de/10013031191

Escaping the Unemployment Trap : The Case of East Germany

Merkl, Christian; Snower, Dennis J. - 2021

This paper addresses the question of why high unemployment rates tend to persist even after their proximate causes have …

Persistent link: https://www.econbiz.de/10013324988

Comparing the Effectiveness of Employment Subsidies

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

This paper analyses theoretically and empirically how employment subsidies should betargeted. We contrast measures involving targeting workers with low incomes/abilities andtargeting the unemployed under the criteria of "approximate welfare efficiency" (AWE)...

Persistent link: https://www.econbiz.de/10005862794