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Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation

de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 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/10010277123

Beyond the DSGE straitjacket

Pesaran, Hashem; Smith, Ron P. - 2011

, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations …. We argue that the dominance of this particular sort of DSGE and the resistance of some in the profession to alternatives …

Persistent link: https://www.econbiz.de/10010278494

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

Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment

Bodart, Vincent; Walque, Gregory De; Pierrard, Olivier; … - Institute for the Study of Labor (IZA) - 2006

productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple …

Persistent link: https://www.econbiz.de/10005703177

Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation

De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - Institute for the Study of Labor (IZA) - 2009

Persistent link: https://www.econbiz.de/10005703208

Beyond the DSGE Straitjacket

Pesaran, Hashem; Smith, Ron P. - Institute for the Study of Labor (IZA) - 2011

Persistent link: https://www.econbiz.de/10009001092

Strategic Complexity and the Value of Thinking

Gill, David; Prowse, Victoria L. - 2022

leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a … characteristics of play in the previous round). We find that strategic complexity varies significantly across situations, and we find … considerable heterogeneity in how responsive subjects' thinking times are to complexity. We also study how variation in response …

Persistent link: https://www.econbiz.de/10013351814

Complex Tax Incentives: An Experimental Investigation

Abeler, Johannes; Jäger, Simon - 2013

How does the tax system's complexity affect people's reaction to tax changes? To answer this question, we conduct a … simple; in the other treatment it is highly complex. The payoff-maximizing effort level and the incentives around this … to ignore larger changes in incentives. Our results suggest that the effect of a newly introduced tax will be attenuated …

Persistent link: https://www.econbiz.de/10010319504

The Complexity of Economic Policy: I. Restricted Local Optima in Tax Policy Design

Saint-Paul, Gilles - 2002

Economists traditionally tackle normative problems by computing optimal policy, i.e. the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I...

Persistent link: https://www.econbiz.de/10010262772

Resources on the Stage: A Firm Level Analysis of the ICT Adoption in Turkey

Findik, Derya; Tansel, Aysit - 2015

, specificity, and the complexity, are analyzed by using firm level data in Turkey. This study has three main conclusions. As for …

Persistent link: https://www.econbiz.de/10011307478