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Diaz-Vazquez, Pilar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2002

Do firms reduce employment when their insiders (established, incumbent employees) claim higher wages? The conventional … answer in the theoretical literature is that insider power has no influence on employment, provided that the newly hired … firing in recessions, while leaving hiring in booms unchanged. Thereby insider power reduces average employment. …

Persistent link: https://www.econbiz.de/10005123530

A reappraisal of the inflation-unemployment tradeoff

Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2005

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...

Persistent link: https://www.econbiz.de/10010955553

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

This paper has two aims. First, it provides simple theoretical models that highlight two channels whereby monetary shocks have permanent real effects and the interactions between these channels. Second, it presents an empirical dynamic model, covering a panel of EU countries, and derives the...

Persistent link: https://www.econbiz.de/10005566739

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2003

Persistent link: https://www.econbiz.de/10005667015

The minimum wage from a two-sided perspective

Brown, Alessio J.G.; Merkl, Christian; Snower, Dennis J. - In: Economics Letters 124 (2014) 3, pp. 389-391

This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective … incentives and increase job acceptance incentives. We show that sufficiently low minimum wages may do no harm to employment …

Persistent link: https://www.econbiz.de/10010930730

The Insider-Outsider Theory of Employment and Unemployment

Lindbeck, Assar; Snower, Dennis J. - The MIT Press

sector). The book examines the effects of insiders' activities on wages, employment, and unemployment; discusses the …

Persistent link: https://www.econbiz.de/10004972987

The Minimum Wage from a Two-Sided Perspective

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2014

Persistent link: https://www.econbiz.de/10011103270

Unemployment Invariance

Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

This paper provides a critique of the "unemployment invariance hypothesis," according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10005822664

Unemployment in the European Union: A dynamic reappraisal

Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2003

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...

Persistent link: https://www.econbiz.de/10010955891

An Incentive Theory of Matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2010

This paper examines the labour market matching process by distinguishing its two component stages: the contact stage, in which job searchers make contact with employers and the selection stage, in which they decide whether to match. We construct a theoretical model explaining two-sided selection...

Persistent link: https://www.econbiz.de/10010955922