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The Importance of Hiring Frictions in Business Cycles
Faccini, Renato - 2020
Hiring is a costly activity reflecting firms' investment in their workers. Micro-data shows that hiring costs involve …
Persistent link: https://www.econbiz.de/10012843182
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
de Walque, Gregory - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10012764242
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Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
Bodart, Vincent; de Walque, Gregory; Pierrard, Olivier; … - 2021
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10013317263
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012863789
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Oil Price Shocks and Labor Market Fluctuations
Ordóñez Monfort, Javier - 2010
We examine the impact of real oil price shocks on labor market flows in the U.S. We first use smooth transition regression (STR) models to investigate to what extent oil prices can be considered as a driving force of labor market fluctuations. Then we develop and calibrate a modified version of...
Persistent link: https://www.econbiz.de/10013139698
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Pandemic-Era Uncertainty
Meyer, Brent; Mihaylov, Emil; Barrero, Jose Maria; … - 2022
. Fifth, our survey evidence suggests that elevated uncertainty is exerting only mild restraint on capital investment plans …
Persistent link: https://www.econbiz.de/10013406440
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Investment Crowding-Out and Labor Market Effects of Financialization in the U.S
González, Ignacio - 2013
financial markets work, and stress the vital need of preventing financial devices that result in productive investment crowding-out …
Persistent link: https://www.econbiz.de/10013084673
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Capital Prices and Eurozone Competitiveness Differentials
Askenazy, Philippe - 2013
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and building prices. European countries, especially France,...
Persistent link: https://www.econbiz.de/10013086230
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Unions, Two-Tier Bargaining and Physical Capital Investment : Theory and Firm-Level Evidence from Italy
Cardullo, Gabriele - 2018
level, raises the amount of investment per worker in the economy compared to a one-tier bargaining scheme, in which earnings … investment per worker and the presence of a two-tier bargaining agreement that we find in a representative sample of Italian …
Persistent link: https://www.econbiz.de/10012906465
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A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs : An Application of the Morishima Elasticity of Substitution
Paul, Saumik - 2019
The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...
Persistent link: https://www.econbiz.de/10012870261