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Macroeconomic vulnerability and disagreement in expectations
Badarinza, Cristian; Buchmann, Marco - 2011
In this paper we discuss the role of the cross-sectional heterogeneity of beliefs in the context of understanding and assessing macroeconomic vulnerability. Emphasis lies on the potential of changing levels of disagreement in expectations to influence the propensity of the economy to switch...
Persistent link: https://www.econbiz.de/10009405595
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2007
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms,...
Persistent link: https://www.econbiz.de/10003507060
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Do firms provide wage insurance against shocks? : evidence from Hungary
Kátay, Gábor - 2008
In this paper I address the question to what extent wages are affected by product market uncertainty. Implicit contract models imply that it is Pareto optimal for risk neutral firms to provide insurance to risk averse workers against shocks. Using matched employer-employee dataset, I adopted the...
Persistent link: https://www.econbiz.de/10003825822
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Inter-industry wage differentials : how much does rent sharing matter?
Du Caju, Philip; Rycx, François; Tojerow, Ilan - 2009
This paper investigates inter-industry wage differentials in Belgium, taking advantage of access to a unique matched employer-employee data set covering all the years from 1999 to 2005. Findings show the existence of large wage differentials among workers with the same observed characteristics...
Persistent link: https://www.econbiz.de/10003963789
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Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...
Persistent link: https://www.econbiz.de/10009636527
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Does bargaining matter in the small firm's matching model?
L'Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011
's matching model of unemployment. To the best of our knowledge, this is the first attempt to implement and systematically compare … these solutions in search-matching economies. Our results are twofold. First from the theoretical and methodological … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …
Persistent link: https://www.econbiz.de/10009238027
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Evaluating microfoundations for aggregate price regidities : evidence from matched firm-level data on product prices and unit labor cost
Carlsson, Mikael; Nordström Skans, Oskar - 2009
strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We find … ; information ; micro data …
Persistent link: https://www.econbiz.de/10003963740
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Bid-to-cover and yield changes around public debt auctions in the euro area
Beetsma, Roel; Giuliodori, Massimo; Hanson, Jesper; … - 2017
Earlier research has shown that euro-area primary public debt markets affect secondary markets. We find that more successful auctions of euro area public debt, as captured by higher bid-to-cover ratios, lead to lower secondary-market yields following the auctions. This effect is stronger when...
Persistent link: https://www.econbiz.de/10011647972
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10003209170
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Who gets jobs matters : monetary policy and the labour market in HANK and SAM
Herman, Uroš; Lozej, Matija - 2023
stylised HANK model augmented with search and matching and ex-ante heterogeneity in terms of educational attainment. We show …
Persistent link: https://www.econbiz.de/10014477695