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On-the-job training, firing costs and employment
Díaz-Vázquez, Pilar; Snower, Dennis J. - 2003
This paper explores the influence of on-the-job training on the employment effect of firing costs. It shows that on …-the-job training (generating firm specific skills) causes firing costs to have a contractionary influence on average employment (over …
Persistent link: https://www.econbiz.de/10010265395
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Wage determination and the sources of bargaining power
Manzini, Paola; Snower, Dennis J. - 2002
's labor turnover costs (e.g. costs of hiring, training, and firing). In this context, labor turnover costs not only influence …
Persistent link: https://www.econbiz.de/10010265542
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Labor turnover costs, workers' heterogeneity, and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are … zero and the optimal volatility of inflation is an increasing function of firing costs. The optimal rule should react to …
Persistent link: https://www.econbiz.de/10010277961
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Macroeconomic volatilities and the labor market: First results from the euro experiment
Merkl, Christian; Schmitz, Tom - 2010
macroeconomic volatilities. In our subsequent empirical estimations, we find that higher labor turnover costs have a statistically …
Persistent link: https://www.econbiz.de/10010277963
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Monetary persistence, imperfect competition, and staggering complementarities
Merkl, Christian; Snower, Dennis J. - 2007
This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of quantitative inertia, after discussing...
Persistent link: https://www.econbiz.de/10010277971
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Monetary persistence and the labor market: a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2008
introduction of labor turnover costs (such as hiring and firing costs). Assuming that it is costly to hire and fire workers implies …
Persistent link: https://www.econbiz.de/10010278018