Showing 1 - 10 of 163
We set-up a real business cycle model with search and matching frictions driven by several shocks, which nests full … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger …
Persistent link: https://www.econbiz.de/10013114011
We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA...
Persistent link: https://www.econbiz.de/10012980672
The continuing adverse labor market effects of the Great Recession have intensified interest in policy efforts to spur job creation. In periods when labor demand and supply are in balance, either hiring credits or worker subsidies can be used to boost employment - hiring credits by reducing...
Persistent link: https://www.econbiz.de/10013128608
observed increase in LTU. Next, using panel data from the Current Population Survey for 2002-2007, we calibrate a matching …
Persistent link: https://www.econbiz.de/10013051310
This paper argues that a broad class of search models cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment ratio is 20 times as volatile as average labor...
Persistent link: https://www.econbiz.de/10013218505
A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise …
Persistent link: https://www.econbiz.de/10013079211
New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because jobs become harder to find. Recessions involve little increase in the flow of workers out of jobs. Another important finding from new data is that a large fraction of workers...
Persistent link: https://www.econbiz.de/10013313246
We study business cycle fluctuations in heterogeneous-agent general equilibrium models that feature both intensive and extensive margins of labor supply. A nonconvexity in the mapping between time devoted to work and labor services combined with idiosyncratic shocks generates operative extensive...
Persistent link: https://www.econbiz.de/10012911496
This paper studies the impact of changing trends in female labor supply on productivity, TFP growth and aggregate business cycles. We find that the growth in women's labor supply and relative productivity added substantially to TFP growth from the early 1980s, even if it depressed average labor...
Persistent link: https://www.econbiz.de/10012890478
We examine monthly variation in weekly work hours using data for 2003-10 from the Current Population Survey (CPS) on hours/worker, from the Current Employment Survey (CES) on hours/job, and from the American Time Use Survey (ATUS) on both. The ATUS data minimize recall difficulties and constrain...
Persistent link: https://www.econbiz.de/10013096809