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Despite mandatory parental leave policies being a prevalent feature of labor markets in developed countries, their aggregate effects in the economy are not well understood. To assess their quantitative impact, we develop a general equilibrium model of fertility and labor market decisions that...
Persistent link: https://www.econbiz.de/10008455312
Job amenities are explicitly included in a model of job choice over the life cycle. The amenities are characterized by an indivisibility--a worker must be present at a job to enjoy its amenities. This chacterization has implications on initial job choice, a worker's wage profile and whether they...
Persistent link: https://www.econbiz.de/10005027363
Often an increase in the minimum wage is accompanied by a reduction in the capital tax. This paper analyzes the effects of interactions between the minimum wage and the capital tax in the general equilibrium framework. The analysis is conducted in an inter-temporal search model in which firms...
Persistent link: https://www.econbiz.de/10005085504
This paper studies the aggregate implications of micro-level labor adjustment costs. Caballero and Engel (1993) find a dependence of aggregate employment growth on the cross sectional distribution of "employment gaps." This paper uses those results as moments in an indirect inference procedure...
Persistent link: https://www.econbiz.de/10004985608
unemployed and the probability that an unemployed worker finds a job, the ins and outs of unemployment. Since 1948, the job … finding probability has accounted for three-quarters of the fluctuations in the unemployment rate in the United States and the …
Persistent link: https://www.econbiz.de/10009653128
I examine whether a version of the Cahuc et al. (2006) model can match the magnitude of wage dispersion, as measured by the ratio of the average and the lowest wage - the so-called mean-min ratio of Hornstein et al. (2011). I find that the workers' bargaining power is a crucial parameter: the...
Persistent link: https://www.econbiz.de/10010662808
In many search models of the labor market, unemployment insurance (UI) is conveniently interpreted as the value of …
Persistent link: https://www.econbiz.de/10011268094
We study asset-tested unemployment insurance in an incomplete markets model with moral hazard during job search …
Persistent link: https://www.econbiz.de/10010951569
Why are financial crises associated with a sustained rise in unemployment? We develop a tractable model with frictions … unemployment. We then explore the micro-level impact by tracking the employment dynamics for firms of different sizes and ages. The …
Persistent link: https://www.econbiz.de/10011160661
This paper studies the relationship between disembodied technological progress and unemployment in a standard search … that disembodied technological progress increases the rate of unemployment. (Copyright: Elsevier) …
Persistent link: https://www.econbiz.de/10005090965