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Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko - 2012
and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10013107467
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Labor Market Institutions and the Response of Inflation to Macro Shocks in the EU : A Two-Sector Analysis
D'Adamo, Gaetano - 2013
We model empirically the role of labor market institutions in affecting the response of inflation to labor market and …-country differences in inflation adjustment for the "sheltered" (non-trading) sector; the effects in the "exposed" (trading) sector are … the Phillips curve in both sectors. More active LM policies also reduce the persistence of inflation. However, but only in …
Persistent link: https://www.econbiz.de/10013075782
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Labour Market Institutions and Inflation Differentials in the EU
D'Adamo, Gaetano - 2015
associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage … coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i …
Persistent link: https://www.econbiz.de/10013014013
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The Cyclicality of Effective Wages within Employer-Employee Matches in a Rigid Labor Market
Anger, Silke - 2011
This study analyzes real wage cyclicality for male full-time workers within employer-employee matches in Germany over the period 1984-2004. Five different wage measures are compared: the standard hourly wage rate; hourly wage earnings including overtime and bonus pay; the effective wage, which...
Persistent link: https://www.econbiz.de/10013129932
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The Importance of Two-Sided Heterogeneity for the Cyclicality of Labour Market Dynamics
Bachmann, Ronald - 2010
Using administrative data on individual workers' employment history and firms, we investigate the cyclicality of worker flows on the German labour market. Focusing on heterogeneities on both sides of the labour market, we find that small firms hire mainly unemployed workers, and that they do so...
Persistent link: https://www.econbiz.de/10013135186
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The Cyclical Volatility of Labor Markets Under Frictional Financial Markets
Petrosky-Nadeau, Nicolas - 2010
Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks initiated by Shimer (2005): in an economy with search...
Persistent link: https://www.econbiz.de/10013139045
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The Labor Market Consequences of Adverse Financial Shocks
Boeri, Tito - 2012
The recent financial crises, alongside a dramatic rise in unemployment on both sides of the Atlantic, suggest that financial shocks do translate into the labor markets. In this paper we first document that financial recessions amplify labor market volatility and Okun's elasticity over the...
Persistent link: https://www.econbiz.de/10013099747
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The Cyclical Behaviour of Employers' Monopsony Power and Workers' Wages
Hirsch, Boris - 2013
This paper investigates the behaviour of employers' monopsony power and workers' wages over the business cycle. Using German administrative linked employer-employee data for the years 1985-2010 and an estimation framework based on duration models, we construct a time series of the firm-level...
Persistent link: https://www.econbiz.de/10013072156
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Endogenous Labor Market Participation and the Business Cycle
Haefke, Christian - 2006
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP. We embed endogenous participation in a simple, tractable job market matching model, show...
Persistent link: https://www.econbiz.de/10012780475
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On the Job Search and Business Cycles
Moscarini, Giuseppe - 2018
We propose a highly tractable way of analyzing business cycles in an environment with random job search both off- and and on-the-job (OJS). Ex post heterogeneity in productivity across jobs generates a job ladder. Firms Bertrand-compete for employed workers, as in the Sequential Auctions...
Persistent link: https://www.econbiz.de/10012909968