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Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States

Hoffmann, Florian - 2014

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Persistent link: https://www.econbiz.de/10012457972

Exchange Rate Volatility and First-Time Entry by Multinational Firms

Russ, Katheryn Niles - 2007

theoretically that volatility in fundamental variables such as the nominal interest rate that drive exchange rate volatility can … investment on exchange rate volatility. It is the first paper to provide empirical evidence that interest rate volatility may …

Persistent link: https://www.econbiz.de/10012465038

Monetarist Monetary Policy, Exchange Risk, and Exchange Rate Variability

Papell, David H. - 1984

This paper investigates the relationship between the new monetary control procedures, implemented by the Federal Reserve Board in October 1979, and the subsequent increase in exchange rate variability for the United States. It shows that, in the context of a stochastic, rational expectations...

Persistent link: https://www.econbiz.de/10012477789

The Pricing of Short-Lived Options When Price Uncertainty Is Log-Symmetric Stable

McCulloch, J. Huston - 1978

The well-known option pricing formula of Black and Scholes depends upon the assumption that price fluctuations are log-normal. However, this formula greatly underestimates the value of options with a low probability of being exercised if, as appears to be more nearly the case in most markets,...

Persistent link: https://www.econbiz.de/10012478885

Offshoring and Labor Markets

Hummels, David - 2016

We survey the recent empirical literature on the effects of offshoring on wages, employment and displacement. We start with the measurement of offshoring, focusing on the use of imported inputs that could have been produced by the importing firm. We overview key theories related to offshoring...

Persistent link: https://www.econbiz.de/10012456633

Labor Market Fluidity and Economic Performance

Davis, Steven J. - 2014

U.S. labor markets became much less fluid in recent decades. Job reallocation rates fell more than a quarter after 1990, and worker reallocation rates fell more than a quarter after 2000. The declines cut across states, industries and demographic groups defined by age, gender and education....

Persistent link: https://www.econbiz.de/10012458189

The Labor Market Effects of Reducing the Number of Illegal Immigrants

Chassamboulli, Andri - 2014

A controversial issue in the US is how to reduce the number of illegal immigrants and what effect this would have on the US economy. To answer this question we set up a two-country model with search in labor markets and featuring legal and illegal immigrants among the low skilled. We calibrate...

Persistent link: https://www.econbiz.de/10012458733

Wedges, Wages, and Productivity under the Affordable Care Act

Mulligan, Casey B. - 2013

Our paper documents the large labor market wedges created by taxes, subsidies, and regulations included in the Affordable Care Act. The law changes terms of trade in both goods and factor markets for firms offering health insurance coverage. We use a multi-sector (intra-national) trade model to...

Persistent link: https://www.econbiz.de/10012458892

Uncertainty, Redistribution, and the Labor Market

Mulligan, Casey B. - 2013

Uncertainty and its composition can affect the demand for social insurance, and thereby the labor market. This paper shows that small to medium-sized increases in uncertainty or risk aversion are enough to recommend an expansion of the safety net that would be broadly similar to the actual...

Persistent link: https://www.econbiz.de/10012459108

Trade and Labor Market Outcomes

Helpman, Elhanan - 2011

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market frictions, and foreign trade. This framework emphasizes firm heterogeneity and search and matching frictions in labor markets. It implies that the opening of trade may raise...

Persistent link: https://www.econbiz.de/10012461995