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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment

Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

Persistent link: https://www.econbiz.de/10012269664

The inflation-output tradeoff : which type of labor market rigidity is to be blamed?

Merkl, Christian - 2009

real wage rigidities. -- Monetary policy ; real wage rigidity ; labor turnover costs ; unemployment ; tradeoff …

Persistent link: https://www.econbiz.de/10003826554

Wage rigidity and job creation

Häfke, Christian; Sonntag, Marcus; Rens, Thijs van - 2009

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

Persistent link: https://www.econbiz.de/10003827155

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

Outsourcing motives, location choice and labour market implications : an empirical analysis for European countries

Neureiter, Marcus; Nunnenkamp, Peter - 2009

We use data on motives of international outsourcing and location choices from a recent survey of European companies to assess the labour market repercussions at home. Employing Tobit models we differentiate between job losses as well as job creation for high and low skilled employees at the...

Persistent link: https://www.econbiz.de/10003872028

The employment effects of immigration : evidence from the mass arrival of German expellees in post-war Germany

Braun, Sebastian; Omar Mahmoud, Toman - 2011

This paper studies the employment effects of the influx of millions of German expellees to West Germany after World War II. The expellees were forced to relocate to post-war Germany. They represented a complete cross-section of society, were close substitutes to the native West German...

Persistent link: https://www.econbiz.de/10009244372

Labor selection, turnover costs and optimal monetary policy

Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2012 - This version September 2012

We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms’ counterpart is given by currently employed workers. Our model captures well the salient features of European labor...

Persistent link: https://www.econbiz.de/10011415418

Subsidization and structural change in Eastern German transition : did economic policy meet its objectives?

Gerling, Katja - 2000

Economic policy interventions of a scale as effected in eastern Germany can be expected to have a significant impact on the economy, which may be in accordance with the objectives of the policy measures or manifest itself in distortions of several kinds. This paper analyzes the structural...

Persistent link: https://www.econbiz.de/10011472466

Minimum wages and employment : the case of German unification

Heitger, Bernhard - 2001

Analysis in terms of the two-sector open economy shows that in bringing the market economy to East Germany, West Germany seems to have disregarded important fundamentals. Premature formation of a currency union led to a substantial real appreciation of the East German currency. Premature...

Persistent link: https://www.econbiz.de/10011473914

A theory of wage adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...

Persistent link: https://www.econbiz.de/10010440552