sectors. However, they crowd-out labor hoarding of employers, increase the volatility of the rate of people working and …

theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … could account for volatility differences across member states, but labor market characteristics have remained very diverse …

the effects of an immigration shock on labor demand by testing a general equilibrium model in which imperfectly … substitutable native and immigrant workers spend their wages on a locally produced good. The shock induces three responses: (i) a … can fall, stay the same or rise, depending upon the strength of the shock and various product and factor market …

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 … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …

shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … market volatility and Okun's elasticity over the business cycle. Second, we highlight a key mechanism linking financial … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …