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Sticky wages in search and matching models in the short and long run
Reicher, Christopher Phillip - 2011
labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. -- Sticky wages ; staggered Nash bargaining ; trend inflation ; unemployment ; search and matching …
Persistent link: https://www.econbiz.de/10009232255
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A frictionless model of job flows and the Beveridge Curve
Reicher, Christopher Phillip - 2010
The Diamond-Mortensen-Pissarides search and matching model is the workhorse of labor macro, but it has difficulty in simultaneously matching the cyclical behavior of job loss and vacancies when taken to the data. By completely ignoring frictions in job creation and focusing instead on firm-level...
Persistent link: https://www.econbiz.de/10003983005
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Hiring chains and the dynamic behavior of job and worker flows
Reicher, Christopher Phillip - 2011
the unemployment rate. I show that a simple frictionless business cycle model with heterogeneity and a simple form of on … employment growth. Worker flows are related to both employment growth and the unemployment rate, and quits and hires are …-the-job search, and quits beget hires to replace quitters. High unemployment crowds out quits, shortens the hiring chain, reduces the …
Persistent link: https://www.econbiz.de/10009152777
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Evaluating the search and matching model with sticky wages
Reicher, Christopher Phillip - 2010
Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series of estimated shocks from US data into a search...
Persistent link: https://www.econbiz.de/10008905754
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What can a New Keynesian labor matching model match?
Reicher, Christopher Phillip - 2009
. -- Unemployment ; labor market search ; job flows ; labor share ; inflation ; productivity shocks ; monetary shocks …
Persistent link: https://www.econbiz.de/10003826579
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Matching labor's share in a search and matching model
Reicher, Christopher Phillip - 2011
In the United States, labor's share of income falls after a positive disturbance to productivity growth or inflation, and it remains low for some time. Previous researchers have argued that the negative relationship between productivity growth and labor's share is puzzling. I argue otherwise. A...
Persistent link: https://www.econbiz.de/10009299014