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Value Added, Wages, and Labor Market Flows at the Establishment Level
Merkl, Christian; Stüber, Heiko - 2018
In this paper, we analyze the connection between value added, wages, and labor market flows at the establishment level …
Persistent link: https://www.econbiz.de/10011816586
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Efficiency and Labor Market Dynamics in a Model of Labor Selection
Chugh, Sanjay K.; Merkl, Christian - 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011345350
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Monetary persistence and the labor market: a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2008
It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...
Persistent link: https://www.econbiz.de/10010278018
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Escaping the unemployment trap: the case of East Germany
Merkl, Christian; Snower, Dennis J. - 2008
been reversed (e.g., after wages relative to productivity have fallen). We suggest that the longer people are unemployed … due to a drop in the replacement rate or firing costs, leading to a fall in wages, (ii) hiring subsidies, and (iii …
Persistent link: https://www.econbiz.de/10010278019
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The Minimum Wage from a Two-Sided Perspective
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2014
, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer … incentives and increase job acceptance incentives. We show that sufficiently low minimum wages may do no harm to employment …
Persistent link: https://www.econbiz.de/10010377272
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Escaping the Unemployment Trap: The Case of East Germany
Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008
been reversed (e.g., after wages relative to productivity have fallen). We suggest that the longer people are unemployed … due to a drop in the replacement rate or firing costs, leading to a fall in wages, (ii) hiring subsidies, and (iii …
Persistent link: https://www.econbiz.de/10005822417
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008
It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...
Persistent link: https://www.econbiz.de/10005761760