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Unemployment in an interdependent world
Felbermayr, Gabriel; Larch, Mario; Lechthaler, Wolfgang - 2012
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our single-sector perspective pays special attention...
Persistent link: https://www.econbiz.de/10011452156
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Comparative advantage and skill-specific unemployment
Larch, Mario; Lechthaler, Wolfgang - 2009
real wages and unemployment levels in the unskilled labor intensive sector. However, the inequality of workers between …
Persistent link: https://www.econbiz.de/10003872019
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Unemployment in an interdependent world
Felbermayr, Gabriel; Larch, Mario; Lechthaler, Wolfgang - 2009
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our single-sector perspective pays special attention...
Persistent link: https://www.econbiz.de/10003872021
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The influence of capital market integration on production and market structures
Koop, Michael J. - 2001
The paper analyzes the effects of increasing capital market integration on production and market structures, trade and capital flows as well as national and global welfare. In order to facilitate the analysis of the integration process, three stages of capital market integration are defined....
Persistent link: https://www.econbiz.de/10011474172
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Optimal fiscal policy with labor selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2016
This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the Ramsey government achieves efficient labor market...
Persistent link: https://www.econbiz.de/10011434257
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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
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Inventory control and intermediation in global supply chains
Zhan, Qu; Raff, Horst; Schmitt, Nicolas - 2015
The paper develops a simple theoretical model of inventory control in global supply chains. It identifies a role for intermediaries in managing inventory, and shows that inserting an intermediary as an additional link in a supply chain is profitable when demand volatility is high. It also...
Persistent link: https://www.econbiz.de/10010491653
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Why "buy American'' is a bad idea but politicians still like it
Larch, Mario; Lechthaler, Wolfgang - 2009
When the world economy was recently hit by a severe recession, governments all over the world reacted by initiating stimulus packages. Some countries (among them, most notably, China and the US) tried to put special emphasis on their home industries by including "Buy local'' clauses into the...
Persistent link: https://www.econbiz.de/10003929261
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Imports, pass-through, and the structure of retail markets
Raff, Horst; Schmitt, Nicolas - 2009
We construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. We are especially interested in studying the degree of pass-through of import into retail prices and the effects of retail market...
Persistent link: https://www.econbiz.de/10003878217
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Trade liberalization and wage inequality : new insights from a dynamic trade model with heterogeneous firms and comparative advantage
Lechthaler, Wolfgang; Mileva, Mariya - 2013
workers and endogenous firm entry to study wage inequality during the adjustment after trade liberalization. We find that … trade liberalization increases wage inequality both in the short run and in the long run. In the short run, wage inequality … is mainly driven by an increase in inter-sectoral wage inequality, while in the medium to long run, wage inequality is …
Persistent link: https://www.econbiz.de/10010226867