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How should unemployment insurance vary over the business cycle?
Birinci, Serdar; See, Kurt - 2020 - Last updated: November 6, 2020
We study optimal unemployment insurance (UI) policy over the business cycle, using a heterogeneous agent job-search model with aggregate risk and incomplete markets. We validate the model-implied micro and macro labor market elasticities to changes in the generosity of UI benefits against...
Persistent link: https://www.econbiz.de/10012311610
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Labor market participation, unemployment and monetary policy
Campolmi, Alessia; Gnocchi, Stefano - 2014
We incorporate a participation decision in a standard New Keynesian model with matching frictions and show that treating the labor force as constant leads to incorrect evaluation of alternative policies. We also show that the presence of a participation margin mitigates the Shimer critique.
Persistent link: https://www.econbiz.de/10010254334
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Job ladder and business cycles
Alves, Felipe - 2022 - Last updated: March 21, 2022
inflation dynamics that resemble the missing disinflation of that period. …
Persistent link: https://www.econbiz.de/10013169236
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Downward nominal wage rigidity meets the zero lower bound
Amano, Robert A.; Gnocchi, Stefano - 2017
the presence of wage rigidity may have overemphasized the need for increasing the inflation target to offset the costs …
Persistent link: https://www.econbiz.de/10011637421
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Job applications and labour market flows
Birinci, Serdar; See, Kurt; Wee, Shu Lin - 2021 - Last updated: October 12, 2021
Job applications have risen over time, yet job-finding rates have remained unchanged. Meanwhile, job separations have declined. We argue that an increase in the number of applications raises the probability of finding a good match rather than the probability of finding a job. Using a search...
Persistent link: https://www.econbiz.de/10012650203
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Labor market shocks and monetary policy
Birinci, Serdar; Karahan, Fatih; Mercan, Yusuf; See, Kurt - 2023 - Last updated: October 5, 2023
quantitatively study the positive and normative implications of employer-to-employer (EE) transitions for inflation. We find that EE … dynamics played an important role in shaping the differential inflation dynamics observed during the Great Recession and COVID …-19 recoveries, with the former exhibiting subdued EE transitions and inflation despite both episodes sharing similar …
Persistent link: https://www.econbiz.de/10014456659
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Optimal taxation in asset markets with adverse selection
Davoodalhosseini, Seyed Mohammadreza - 2020 - Last updated: April 3, 2020
Constrained efficiency is characterized in an asset market, subject to search frictions, where sellers are privately informed about the type of their asset. The type determines the opportunity cost of the asset for sellers and the quality of the asset for buyers. The constrained efficient...
Persistent link: https://www.econbiz.de/10012198635
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Labor market policies during an epidemic
Birinci, Serdar; Karahan, Fatih; Mercan, Yusuf; See, Kurt - 2020 - Last updated: December 15, 2020
We study the positive and normative implications of labor market policies that counteract the economic fallout from containment measures during an epidemic. We incorporate a standard epidemiological model into an equilibrium search model of the labor market to compare unemployment insurance (UI)...
Persistent link: https://www.econbiz.de/10012388756
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Technology shocks, labour mobility and aggregate fluctuations
Hauser, Daniela - 2014
We provide evidence regarding the dynamic behaviour of net labour flows across U.S. states in response to a positive technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for 226 state pairs, encompassing 80 per cent of...
Persistent link: https://www.econbiz.de/10010235884
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Monetary commitment and the level of public debt
Gnocchi, Stefano; Lambertini, Luisa - 2016
positive if the central bank adopts closed-loop strategies that raise the real interest rate when inflation is above target … owing to fiscal deviations. More aggressive defence of the inflation target implies lower debt and higher welfare. Simple …
Persistent link: https://www.econbiz.de/10011431600