Showing 1 - 10 of 1,251
This paper estimates a stylized search and matching model on data for Australia covering the period 1978-2008. Using Bayesian methods we find that the model does a fairly good job in replicating the data. Surprisingly, we find a large value for the worker’s bargaining power and low vacancy...
Persistent link: https://www.econbiz.de/10011259078
differences: (1) transition rates from unemployment to employment (UE) were lower by a factor of 5 and inflow rates from … employment to unemployment (EU) were lower by a factor of 4 in Germany. (2) The volatility of the UE rate was equal but the EU … rate was 2.3 times more volatile in Germany. (3) In Germany EU flows contributed 60 − 70% to the unemployment volatility …
Persistent link: https://www.econbiz.de/10011259260
reciprocal relationship. The variable considered are: unemployment, inflation, consumptions, investments and current accounts. We … between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test for the … relationship between unemployment and the Government deficit, e) we show the existence of a relationship between unemployment and …
Persistent link: https://www.econbiz.de/10011261122
−2004 uncovers three stylized differences: (1) Germany’s mean transition rates from unemployment to employment (UE) were lower by a … factor of 5 and transition rates from employment to unemployment (EU) were lower by a factor of 4. (2) The volatility of the … contributed 60−70% to unemployment volatility, whereas in the U.S. they contributed only 30−40%. Using a search and matching model …
Persistent link: https://www.econbiz.de/10009223332
in the vacancy-unemployment ratio without ad hoc assumptions of wage rigidity. This paper presents a mechanism of such … economy, and the vacancy-unemployment ratio experiences large cyclical fluctuations. …
Persistent link: https://www.econbiz.de/10009228915
This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation Search Index (GISI) is assessed relative to 37 other...
Persistent link: https://www.econbiz.de/10009647210
shocks temporarily increase unemployment. Positive labor demand shocks increase employment, depress unemployment, rise real … average wages, and were found to be the main determinant of variability of employment and unemployment in the short-run. In … employment and unemployment. The retrospective simulations of the model show that Baltic states and Poland were significantly …
Persistent link: https://www.econbiz.de/10005835482
literature tries to decompose this intratemporal elasticity into its main components, the "Ins and Outs of Unemployment" (Shimer …
Persistent link: https://www.econbiz.de/10005619536
The U.S financial crisis started in October 2005. The level of new home starts would have replaced the total owner occupied housing stock in 37 years. Much faster than desirable. Mortgage interest rates also went up in same month. In 2006 mortgage lending went on unabated, but housing values did...
Persistent link: https://www.econbiz.de/10011110907
The U.S. housing market crash in 2007-2008 was not caused overnight by an over-supply of new homes that could not be sold. It was caused by the new money flows into mortgages ever since 1998. What changed in 1998 was that mortgage funds were not only used for building new homes at a price in...
Persistent link: https://www.econbiz.de/10011163523