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Demand or Supply? Price Adjustment during the COVID-19 Pandemic
Balleer, Almut; Link, Sebastian; Menkhoff, Manuel; … - 2020
We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand … during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported … percentage points. These results imply a role for aggregate demand stabilization policy to buffer the economic consequences of …
Persistent link: https://www.econbiz.de/10012270246
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When supply meets demand: wage inequality in Portugal
Centeno, Mário; Novo, Álvaro A. - 2009
rate. The supply of high-skilled workers more than doubled during this period, contributing significantly to the slowdown …. Polarization of employment demand is the more credible explanation for the more recent evolution. As in other developed economies …
Persistent link: https://www.econbiz.de/10010269614
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When Supply Meets Demand: Wage Inequality in Portugal
Centeno, Mario; Novo, Alvaro A. - Institute for the Study of Labor (IZA) - 2009
rate. The supply of high-skilled workers more than doubled during this period, contributing significantly to the slowdown …. Polarization of employment demand is the more credible explanation for the more recent evolution. As in other developed economies …
Persistent link: https://www.econbiz.de/10008558937
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Countercyclical Recruiting Rates and the Value of Jobs
Yashiv, Eran - 2015
U.S. CPS gross flows data indicate that in recessions firms actually increase their hiring rates from the pools of the unemployed and out of the labor force. Why so? The paper provides an explanation by studying the optimal recruiting behavior of the representative firm. This behavior is a...
Persistent link: https://www.econbiz.de/10011401640
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Volatility and Growth: Governments are Key
Jetter, Michael - 2013
There exists a persistent disagreement in the literature over the effect of business cycles on economic growth. This paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a negative indirect effect, operating through the insurance...
Persistent link: https://www.econbiz.de/10010328920
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Do Unemployment Benefit Extensions Explain the Emergence of Jobless Recoveries?
Mitman, Kurt; Rabinovich, Stanislav - 2019
Countercyclical unemployment benefit extensions in the United States act as a propagation mechanism, contributing to both the high persistence of unemployment and its weak correlation with productivity. We show this by modifying an otherwise standard frictional model of the labor market to...
Persistent link: https://www.econbiz.de/10012059095
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Downward Real Wage Rigidity and Equal Treatment Wage Contracts: Theory and Evidence
Snell, Andy; Stüber, Heiko; Thomas, Jonathan P. - 2018
Recent dynamic contracting models of downward real wage rigidity with "equal treatment" – newly hired workers cannot price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but upwardly flexible during "good" times. We use an...
Persistent link: https://www.econbiz.de/10011873508
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The Ins and Outs of Involuntary Part-Time Employment
Borowczyk-Martins, Daniel; Lalé, Etienne - 2018
We develop an adjustment procedure to construct U.S. monthly time series of involuntary part-time employment stocks and flows from 1976 until today. Armed with these new data, we provide a comprehensive account of the dynamics of involuntary part-time work. Transitions from full-time to...
Persistent link: https://www.econbiz.de/10011931791
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On the Job Search and Business Cycles
Moscarini, Giuseppe; Postel-Vinay, Fabien - 2018
We propose a highly tractable way of analyzing business cycles in an environment with random job search both off- and and on-the-job (OJS). Ex post heterogeneity in productivity across jobs generates a job ladder. Firms Bertrand-compete for employed workers, as in the Sequential Auctions...
Persistent link: https://www.econbiz.de/10011931818
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The German Labor Market during the Great Recession: Shocks and Institutions
Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018
This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10011931823