Narrow search
Showing 1 - 10 of 376
Cover Image
Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …
Persistent link: https://www.econbiz.de/10009636527
Cover Image
Does employment protection legislation affect credit access? : evidence from Europe
Moro, Andrea; Maresch, Daniela; Ferrando, Annalisa; … - 2017
We investigate the impact of employment protection on firms' credit access by looking at both credit obtained from banks and firms' decision to apply for a loan. We find that greater flexibility in structuring the employees' working hours and in dismissing employees increases the probability...
Persistent link: https://www.econbiz.de/10011647887
Cover Image
A narrative database of labour market reforms in euro area economies
Aumond, Romain; Di Tommaso, Valerio; Rünstler, Gerhard - 2022
protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …
Persistent link: https://www.econbiz.de/10013168212
Cover Image
Asset pricing and the propagation of macroeconomic shocks
Jaccard, Ivan - 2018
This paper considers the implications of habit formation and financial frictions for the propagation of macroeconomic shocks. In a model that is capable of matching asset pricing moments, a short-lived shock that destroys a small fraction of the economy's stock of pledgeable collateral generates...
Persistent link: https://www.econbiz.de/10011856397
Cover Image
Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every … period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … the new entrants wage rigidity required to match observed unemployment volatility. -- DSGE ; Search and Matching ; Nominal …
Persistent link: https://www.econbiz.de/10003831761
Cover Image
The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behaviour...
Persistent link: https://www.econbiz.de/10003832582
Cover Image
Inflation dynamics with labour market matching : assessing alternative specifications
Christoffel, Kai; Costain, James; De Walque, Gregory - 2009
This paper reviews recent approaches to modeling the labour market and assesses their implications for in.ation dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we consider the following modeling setups: right-to-manage...
Persistent link: https://www.econbiz.de/10003866010
Cover Image
Productivity and job flows : heterogeneity of new hires and continuing jobs in the business cycle
Kilponen, Juha; Vanhala, Juuso - 2009
"unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their … well behaving Beveridge curve, despite endogenous job destruction, and more volatile vacancies and unemployment, without a …
Persistent link: https://www.econbiz.de/10003963735
Cover Image
What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
Cover Image
Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach
Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018
We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...
Persistent link: https://www.econbiz.de/10011792134