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The sources of Iran's Business Cycles
Delavari, Majid; Mohammadali, Hanieh; Naderi, Esmaeil; … - Volkswirtschaftliche Fakultät, … - 2011
A business cycle is, in fact, fluctuations of macroeconomic variables and gross domestic product. These fluctuations play a substantial role in any country. Prosperity and depression have been the most impressive problem in Iranian economy during the last decades so government and politicians...
Persistent link: https://www.econbiz.de/10011114085
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Equilibrium Unemployment with Outsourcing and Wage Solidarity Under Labour Market Imperfections
Koskela, Erkki; Stenbacka, Rune - Institute for the Study of Labor (IZA) - 2007
We evaluate the effects of outsourcing and wage solidarity on wage formation and equilibrium unemployment in a … heterogeneous labour market, where wages are determined by a monopoly labour union. We find that outsourcing promotes the wage … magnify, and not dampen, this tendency. Further, higher outsourcing will increase equilibrium unemployment among the high …
Persistent link: https://www.econbiz.de/10005233784
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Good Skills in Bad Times: Cyclical Skill Mismatch and the Long-Term Effects of Graduating in a Recession
Liu, Kai; Salvanes, Kjell G.; Sørensen, Erik Ø. - Institute for the Study of Labor (IZA) - 2012
We show that cyclical skill mismatch, defined as mismatch between the skills supplied by college graduates and skills demanded by hiring industries, is an important mechanism behind persistent career loss from graduating in recessions. Using Norwegian data, we find a strong countercyclical...
Persistent link: https://www.econbiz.de/10010884273
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Skill-Biased Technological Change and the Business Cycle
Balleer, Almut; Rens, Thijs van - Institut für Weltwirtschaft (IfW) - 2012
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10010886889
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Skill-Biased Technological Change and the Business Cycle
Balleer, Almut; Rens, Thijs van - In: The Review of Economics and Statistics 95 (2013) 4, pp. 1222-1237
Over the past two decades, technological progress in the United States has been biased toward skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run zero and sign...
Persistent link: https://www.econbiz.de/10011009899
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A Business Cycle Model Based on Efficiency Wages, Monopolistic Competition and Nondecreasing Returns
Weinrich, Gerd - Volkswirtschaftliche Fakultät, … - 1993
A model is analyzed in which workers' efforts depend positively on the real wage and the unemployment rate. Due to isoelastic demand and constant marginal cost it is optimal for firms to set the output price as a fixed markup over the nominal wage. When demand shocks occur, firms' first response...
Persistent link: https://www.econbiz.de/10005260207
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Skill-Biased Technological Change and the Business Cycle
Balleer, Almut; Rens, Thijs van - Barcelona Graduate School of Economics (Barcelona GSE) - 2011
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10010547348
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Skill-Biased Technological Change and the Business Cycle
Balleer, Almut; van Rens, Thijs - C.E.P.R. Discussion Papers - 2011
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10009643505
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Wage Rigidity and Job Creation
Haefke, Christian; Sonntag, Marcus; Rens, Thijs van - Barcelona Graduate School of Economics (Barcelona GSE) - 2012
Recent research in macroeconomics emphasizes the role of wage rigidity in ac- counting for the volatility of unemployment fluctuations. We use worker-level data from the CPS to measure the sensitivity of wages of newly hired workers to changes in aggregate labor market conditions. The wage of...
Persistent link: https://www.econbiz.de/10010550421
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Non-linear dynamics of real wages over the business cycle
Altavilla, Carlo; Vinci, Concetto Paolo - In: Journal of Applied Economics XIV (2011) May, pp. 81-99
This paper aims at analysing the dynamic properties of real wages over the business cycle. We apply a Bayesian vector autoregressive (BVAR) model and analyse the possible asymmetric behaviour of real wages in response to different macroeconomic shocks. Finally, we use the NBER business cycle...
Persistent link: https://www.econbiz.de/10009132761