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Investment Crowding-Out and Labor Market Effects of Financialization in the U.S
González, Ignacio - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi …-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization … swings experienced by the financialization process.We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10013084673
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Distributional Consequences of Capital Accumulation, Globalisation and Financialisation in the US
Karanassou, Marika - 2013
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10013085470
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Assessing the Impact of Incomes Policy : The Italian Experience
Pastore, Francesco - 2010
The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...
Persistent link: https://www.econbiz.de/10013139721
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Macroeconomic Dynamics in a Model of Goods, Labor and Credit Market Frictions
Petrosky-Nadeau, Nicolas - 2011
Building a model with three imperfect markets – goods, labor and credit – representing a product's life-cycle, we find that goods market frictions drastically change the qualitative and quantitative dynamics of labor market variables. The calibrated model leads to a significant reduction in...
Persistent link: https://www.econbiz.de/10013123603
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A Steady-State Model of a Non-Walrasian Economy with Three Imperfect Markets
Wasmer, Etienne - 2011
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10013123608
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Search Frictions on Product and Labor Markets : Money in the Matching Function
Lehmann, Etienne - 2007
This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictions on the product market, equilibrium unemployment is a U-shaped function of the...
Persistent link: https://www.econbiz.de/10012777086
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Completing the Monetary Union of Europe as Mid-Term Solution of the Euro Crisis
Fischer, Justina A. V. - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10013016262
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The European Youth Guarantee : Labor Market Context, Conditions and Opportunities in Italy
Pastore, Francesco - 2015
This essay aims to discuss the conditions for a successful implementation of the European Youth Guarantee in Italy. In principle, the program should be able to affect the frictional and mismatch components of unemployment, if not the Keynesian and neoclassical ones, as also the experience of...
Persistent link: https://www.econbiz.de/10013025302
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On Measuring Uncertainty : Snakes and Ladders
Junankar, P. N. Raja - 2016
households and lower investment by firms, and hence leads to lower aggregate investment and growth. This paper argues that …
Persistent link: https://www.econbiz.de/10012982105
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A Theory of Non-Coasean Labor Markets
Blanco, Julio; Drenik, Andres; Moser, Christian; … - 2023
We develop a theory of labor markets in a monetary economy with four realistic features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient job separations occur in the form of endogenous...
Persistent link: https://www.econbiz.de/10014354773