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Unemployment Fluctuations with Staggered Nash Wage Bargaining
Gertler, Mark - 2010
A number of authors have recently emphasized that the conventional model of unemployment dynamics due to Mortensen and Pissarides has difficulty accounting for the relatively volatile behavior of labor market activity over the business cycle. We address this issue by modifying the MP framework...
Persistent link: https://www.econbiz.de/10012760666
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Volatility and Dispersion in Business Growth Rates : Publicly Traded Versus Privately Held Firms
Davis, Steven J. - 2014
, the employment-weighted mean volatility of firm growth rates has declined by more than 40% since 1982. This result stands … volatility among privately held firms. This pattern holds in every major industry group. Employment shifts toward older …, we exploit the recently developed Longitudinal Business Database (LBD), which contains annual observations on employment …
Persistent link: https://www.econbiz.de/10012752211
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Direct Investment, Rising Real Wages and the Absorption of Excess Labor in the Periphery
Dooley, Michael P. - 2012
This paper sets out the political economy behind Asian governments' participation in a revived Bretton Woods System. The overriding problem for these governments is to rapidly integrate a large pool of underemployed labor into the industrial sector. The principal constraints are inefficient...
Persistent link: https://www.econbiz.de/10013103790
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Trade, Jobs, and Wages
Krugman, Paul R.; Lawrence, Robert Z. - 2021
There is a broad consensus among US opinion leaders that our economic problem is largely one of failures of international competition -- that trade deficits have eroded our manufacturing base, that inability to sell on world markets has been a major drag on economic growth, and that imports from...
Persistent link: https://www.econbiz.de/10013211656
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Labor Supply : Are the Income and Substitution Effects Both Large or Both Small?
Kimball, Miles S. - 2008
Labor supply is unresponsive to permanent changes in wage rates. Thus, income and substitution effects cancel, but are they both close to zero or both large? This paper develops a theory of labor supply where income and substitution effects cancel, taking into account optimization over time,...
Persistent link: https://www.econbiz.de/10012770786
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Striking at the Roots of Crime : The Impact of Social Welfare Spending on Crime During the Great Depression
Johnson, Ryan - 2010
The Great Depression of the 1930s led contemporaries to worry that people hit by hard times would turn to crime in their efforts to survive. Franklin Roosevelt argued that the unprecedented and massive expansion in relief efforts quot;struck at the roots of crimequot; by providing subsistence...
Persistent link: https://www.econbiz.de/10012760461
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Global Rebalancing with Gravity : Measuring the Burden of Adjustment
Dekle, Robert - 2008
We use a forty-two country model of production and trade to assess the implications of eliminating current account imbalances for relative wages, relative GDP's, real wages, and real absorption. How much relative GDP's need to change depends on flexibility of two forms: factor mobility and the...
Persistent link: https://www.econbiz.de/10012772425
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Why the Welfare State Looks Like a Free Lunch
Lindert, Peter H. - 2021
The econometric consensus on the effects of social spending confirms a puzzle we confront in the raw data: There is no clear net GDP cost of high tax-based social spending on GDP, despite a tradition of assuming that such costs are large. The paper offers five keys to this free lunch puzzle....
Persistent link: https://www.econbiz.de/10013310538
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Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets
Bruegemann, Bjoern - 2010
Recent findings have revived interest in the link between real wage rigidity and employment fluctuations, in the … offer two contributions. First, we derive upper bounds on labor market volatility that apply if the model of wage … tight: rent rigidity generates no more than a third of observed volatility, an outcome that is closer to Nash bargaining …
Persistent link: https://www.econbiz.de/10012760187
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Measuring Economic Policy Uncertainty
Baker, Scott R. - 2016
find that policy uncertainty raises stock price volatility and reduces investment and employment in policy … foreshadow declines in investment, output, and employment in the United States and, in a panel VAR setting, for 12 major …
Persistent link: https://www.econbiz.de/10013003270