Showing 1 - 10 of 394
general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …
Persistent link: https://www.econbiz.de/10009636527
time, labor markets are strongly responsive to macro uncertainty as the unemployment rate and the job separation rate rise … who, being subject to higher unemployment risk, contract consumption more in response to heightened uncertainty, and firms …
Persistent link: https://www.econbiz.de/10015163220
Using new quarterly narrative evidence, this paper examines the macroeconomic impact of reforms of unemployment …
Persistent link: https://www.econbiz.de/10012627869
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
protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …
Persistent link: https://www.econbiz.de/10013168212
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
Does it pay to invest in green companies? In countries where a market for carbon is functioning, such as those within the European Union, our findings suggest that it should be beneficial. Using a sample of green and brown European firms, we initially demonstrate that green companies have...
Persistent link: https://www.econbiz.de/10015339635
"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
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
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