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Levine, David K. - 2010

More advanced technologies demand higher degrees of specialization - and longer chains of production connecting raw inputs to final outputs. Longer production chains are subject to a "weakest link" effect: they are more fragile and more prone to failure. Optimal chain length is determined by the...

Persistent link: https://www.econbiz.de/10013135410

The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the euro area ( by Carlo Altavilla and Matteo Ciccarelli

Altavilla, Carlo; Ciccarelli, Matteo - 2009

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … mechanism, but also about the differences between the euro area and the US, which are on average essentially small. -- Monetary …

Persistent link: https://www.econbiz.de/10003963762

What’s going on behind the euro area Beveridge curve(s)?

Bonthuis, Boele; Jarvis, Valerie; Vanhala, Juuso - 2013

Persistent link: https://www.econbiz.de/10010195425

Disaggregating Okun's law : decomposing the impact of the expenditure components of GDP on euro area unemployment ; 2012 structural issues report

Anderton, Bob; Aranki, Ted; Bonthuis, Boele; Jarvis, Valerie - 2014

Persistent link: https://www.econbiz.de/10010482489

Real wages and local unemployment in the euro area

Sanz de Galdeano, Anna (contributor); … - 2005

We present empirical evidence of the extent of wage rigidity in the euro area and European countries derived from longitudinal data on individuals. Wage rigidity is measured by the elasticity of individual real wages with respect to local unemployment. The results suggest that the elasticity is...

Persistent link: https://www.econbiz.de/10003001482

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the Us and Europe

Justiniano, Alejandro - 2012

-Saxon countries (the US and the UK), two Continental European countries (France and Germany) and two Scandinavian countries (Norway … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger … role in most European countries relative to the US …

Persistent link: https://www.econbiz.de/10013114011

Animal Spirits, Financial Crises and Persistent Unemployment

Farmer, Roger E. A. - 2011

This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of capital may be unbounded above. I argue that this property is an important feature of any rational-agent explanation of a financial crisis, since for the expansion phase of the...

Persistent link: https://www.econbiz.de/10013123693

Does European Unemployment Prop Up American Wages?

Davis, Donald R. - 2011

We consider trade between a flexible wage America and a rigid real wage Europe. In a benchmark case, a move from autarky to free trade doubles the European unemployment rate, while it raises the American unskilled wage to the high European level. Entry of the unskilled South to world markets...

Persistent link: https://www.econbiz.de/10013125263

Labor Market, Financial Crises and Inflation : Jobless and Wageless Recoveries

Calvo, Guillermo A. - 2012

This paper uses a sample of 116 recession episodes in developed and emerging market economies to compare the labor-market recovery during financial crises with that of other recession episodes. It documents two new stylized facts. First, labor-market recovery from financial crises is...

Persistent link: https://www.econbiz.de/10013099123

A narrative database of labour market reforms in euro area economies

Aumond, Romain; Di Tommaso, Valerio; Rünstler, Gerhard - 2022

We present a quarterly narrative database of important labour market reforms in selected euro area economies in between 1995 and 2018 covering 60 events. We provide legal adoption and implementation dates of major reforms to employment protection legislation and unemployment benefits. Estimates...

Persistent link: https://www.econbiz.de/10013168212