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Inflation persistence and the Phillips curve revisited
Karanassou, Marika; Snower, Dennis J. - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called persistency puzzle - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips curve...
Persistent link: https://www.econbiz.de/10010273163
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Reforming an insider-outsider labor market: The Spanish experience
Bentolila, Samuel; Dolado, Juan José; Jimeno, Juan F. - 2011
This paper presents a case study on reforming a very dysfunctional labor market with a deep insider-outsider divide, namely the Spanish case. We show how a dual market, with permanent and temporary employees makes real reform much harder, and leads to purely marginal changes that do not alter...
Persistent link: https://www.econbiz.de/10010282312
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The unexpected appearance of a new German model
Eichhorst, Werner - 2012
Most Continental European labour markets and welfare states underwent a substantial transformation over the last two decades moving from a situation of low employment and limited labour market inequality to higher employment, but also more inequality. Germany is a case in point as it exhibits...
Persistent link: https://www.econbiz.de/10010283946
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Inflation Persistence and the Phillips Curve Revisited
Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called "persistency puzzle" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips...
Persistent link: https://www.econbiz.de/10005703349
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The insider-outsider theory: a survey
Lindbeck, Assar; Snower, Dennis J. - 2002
This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … shocks. The second section deals with the insider-outsider theory in relation to two important economic institutions: unions …
Persistent link: https://www.econbiz.de/10010292491
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Minimum wage effects on labor market outcomes under search with bargaining
Flinn, Christopher J. - 2003
Building upon a continuous-time model of search with Nash bargaining in a stationary environment, we analyze the effect of changes in minimum wages on labor market outcomes and welfare. While minimum wage increases invariably lead to employment losses in our model, they may be welfare-improving...
Persistent link: https://www.econbiz.de/10010261648
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The Endogenous Determination of Minimum Wage
Epstein, Gil S.; Nitzan, Shmuel - 1999
In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers? union and of political culture on the determination of the minimum wage. In...
Persistent link: https://www.econbiz.de/10010262294
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Job Protection, Minimum Wage and Unemployment
Zylberberg, André; Cahuc, Pierre - 1999
We analyze how wage setting institutions and job-security provisions interact on unemployment. The assumption that wages are renegotiated by mutual agreement only is introduced in a matching model with endogenous job destruction – la Mortensen and Pissarides (1994) in order to get wage...
Persistent link: https://www.econbiz.de/10010262316
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Redundancy Payments, Incomplete Labor Contracts, Unemployment and Welfare
Cahuc, Pierre; Zylberberg, André - 1999
It is frequently argued that pure government-mandated severance transfers by the employer to the worker have neither employment nor welfare effect because they can be offset by private transfers from the worker to the employer. In this paper, using a dynamic search and matching model a la...
Persistent link: https://www.econbiz.de/10010262317
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Temporary Jobs, Employ Protection and Labor Market Performance
Postel-Vinay, Fabien; Cahuc, Pierre - 2001
Many European labor markets are characterized by heavy employment protection taxes and the widespread use of fixed-duration contracts. The simultaneous use of these two policy instruments seems somewhat contradictory since the former primarily aims at limiting job destruction whereas the latter...
Persistent link: https://www.econbiz.de/10010262463