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What can a New Keynesian labor matching model match?

Reicher, Christopher Phillip - 2009

A labor matching model with nominal rigidities can match short-run movements in labor's share with some success. However, it cannot explain much of the behavior of employment, vacancies, and job flows in postwar US data without resorting to additional shocks beyond monetary policy and...

Persistent link: https://www.econbiz.de/10010265220

Incentives and complementarities of flexicurity

Brown, Alessio J. G.; Snower, Dennis J. - 2009

renowned Danish miracle by evaluating their unemployment and inequality effects and their complementarities. We develop a … full Danish flexicurity set of policies (low employment protection, high unemployment benefits and workfare). Our results … show that implementing the Danish flexicurity concept in Germany would reduce unemployment and earnings inequality …

Persistent link: https://www.econbiz.de/10010265238

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...

Persistent link: https://www.econbiz.de/10010277955

East German unemployment: the myth of the irrelevant labor market

Merkl, Christian; Snower, Dennis J. - 2008

This paper indicates that East Germany's unemployment originates primarily in the labor market, caused by the fast wage …

Persistent link: https://www.econbiz.de/10010277978

The Determinants of Reservation Wages in Germany Does a Motivation Gap Exist?

Christensen, Björn - 2001

characteristics of the unemployed are the most important determinants of reservation wages. In contrast neither unemployment duration … nor different kinds of unemployment benefits influence reservation wages. Hence the findings corroborate the hypothesis …

Persistent link: https://www.econbiz.de/10010260475

Global financial cycles since 1880

Potjagailo, Galina; Wolters, Maik H. - 2019

We analyze cyclical co-movement in credit, house prices, equity prices, and long-term interest rates across 17 advanced economies. Using a time-varying multi-level dynamic factor model and more than 130 years of data, we analyze the dynamics of co-movement at different levels of aggregation and...

Persistent link: https://www.econbiz.de/10011988115

Revisiting the matching function

Kohlbrecher, Britta; Merkl, Christian; Nordmeier, Daniela - 2014

these two features combined generate an equilibrium comovement between matches on the one hand and unemployment and …

Persistent link: https://www.econbiz.de/10010332854

Firing costs in a New Keynesian model with endogenous separations

Wesselbaum, Dennis - 2009

This paper introduces productivity dependent firing costs in an endogenous separation New Keynesian model. By strictly respecting the bonding critique, we show that firing costs tend to increase the performance of the model along the labor market dimension but fail along the persistence...

Persistent link: https://www.econbiz.de/10010265254

On the introduction of firing costs

Ahrens, Steffen; Wesselbaum, Dennis - 2009

This paper provides a survey of the recent literature about firing costs and discusses the transmission channels of firing costs in a partial equilibrium context. In addition, we expand our analysis two types of firing costs in a New Keynesian model with purely endogenous separations. We further...

Persistent link: https://www.econbiz.de/10010265263

Staggered wages, sticky prices, and labor market dynamics in matching models

Neugebauer, Janett; Wesselbaum, Dennis - 2010

This paper investigates the role of staggered wages and sticky prices in explaining stylized labor market facts. We build on a partial equilibrium search and matching model and expand the model to a general equilibrium model with sticky prices and/or staggered wages. We show that the core model...

Persistent link: https://www.econbiz.de/10010265958

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