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A Beveridge curve decomposition for Austria : what drives the unemployment rate?
Christl, Michael - 2019
The Austrian Beveridge curve shifted in 2014, leading to ongoing academic discussions about the reasons behind this shift. While some have argued that the shift was caused by a supply shock due to labour market liberalization, others have stated that matching efficiency decreased. Using a new...
Persistent link: https://www.econbiz.de/10011962116
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How far from full employment? : the European unemployment problem revisited
Gökten, Meryem; Heimberger, Philipp; Lichtenberger, Andreas - 2024
Beveridge (full-employment-consistent) rate of unemployment (BECRU), derived from the unemployment-vacancies relationship. The …
Persistent link: https://www.econbiz.de/10014507179
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The Ins and Outs of Involuntary Part-time Employment
Borowczyk-Martins, Daniel; Lalé, Etienne - 2018
We develop an adjustment procedure to construct U.S. monthly time series of involuntary part-time employment stocks and flows from 1976 until today. Armed with these new data, we provide a comprehensive account of the dynamics of involuntary part-time work. Transitions from full-time to...
Persistent link: https://www.econbiz.de/10012142390
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Consumption Dynamics under Time-Varying Unemployment Risk
Harmenberg, Karl; Ôberg, Erik - 2019
Private consumption demand falls in response to increased unemployment risk during a recession, as households increase their precautionary savings and postpone irreversible durable investments. The postponement effect is seven times as large as the precautionary-savings effect in a calibrated...
Persistent link: https://www.econbiz.de/10012142400
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How should unemployment insurance vary over the business cycle?
Birinci, Serdar; See, Kurt - 2019
We study optimal unemployment insurance (UI) 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 UI generosity against existing estimates, and...
Persistent link: https://www.econbiz.de/10012137069
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Agency problems and endogenous economic fluctuations
Favara, Giovanni - Institut für Schweizerisches Bankwesen <Zürich> - 2006
This paper proposes a theory of investment fluctuations where the source of the oscillating dynamics is an agency problem between financiers and entrepreneurs. A central tenet of the theory is that investment decisions depend upon entrepreneurs’ initiative to select investment projects...
Persistent link: https://www.econbiz.de/10005858058
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Public and private pension systems and macroeconomic volatility in OECD countries
Holzner, Mario; Jestl, Stefan; Pichler, David - 2019
economic volatility. To do so, we use panel data for 35 OECD countries for the period 1980-2018 and apply a set of state … evidence of a positive impact of pension funds' benefits on volatility. Results were, however, found not to be very robust. In … contrast, pension funds' assets do not show any evidence of being associated with economic volatility. Unsystematic fiscal …
Persistent link: https://www.econbiz.de/10012153877
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Macroeconomic and stock market interactions with endogenous aggregate sentiment dynamics
Flaschel, Peter; Charpe, Mattieu; Galanis, Giorgos; … - 2017
This paper studies the implications of heterogeneous capital gain expectations on output and asset prices. We consider a disequilibrium macroeconomic model where agents' expectations on future capital gains affect aggregate demand. Agents' beliefs take two forms - fundamentalist and chartist -...
Persistent link: https://www.econbiz.de/10011671937
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Gender and education gaps in employment : new evidence for the EU
Gökten, Meryem; Heimberger, Philipp; Arsenev, Aleksandr; … - 2024
This paper analyses (age-adjusted) employment rates by gender and education. We find that malefemale gender gaps and high-low education gaps in employment vary markedly across European Union (EU) countries and regions, with larger gaps existing in Eastern and Southern Europe than in Nordic and...
Persistent link: https://www.econbiz.de/10014558979
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The rise and fall of Spanish unemployment : a chain reaction theory perspective
Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
The evolution of Spanish unemployment has been quite idiosyncratic. The full-employment levels of the early seventies were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price shocks. While unemployment was extremely persistent in most...
Persistent link: https://www.econbiz.de/10003765970