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The vanishing procyclicality of labor productivity
Galí, Jordi; Rens, Thijs van - 2010
wage has risen. We propose an explanation for all three changes that is based on a common source: a decline in labor market … frictions. We develop a simple model with labor market frictions, variable effort, and endogenous wage rigidities to illustrate … observed decline in output volatility. -- Labor hoarding ; labor market frictions ; wage rigidities ; effort choice …
Persistent link: https://www.econbiz.de/10003996447
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The vanishing procyclicality of labor productivity
Galí, Jordi; Rens, Thijs van - 2010
wage has risen. We propose an explanation for all three changes that is based on a common source: a decline in labor market … frictions. We develop a simple model with labor market frictions, variable effort, and endogenous wage rigidities to illustrate … observed decline in output volatility. -- labor hoarding ; labor market frictions ; wage rigidities ; effort choice …
Persistent link: https://www.econbiz.de/10008779865
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Gains from wage flexibility and the zero lower bound
Billi, Roberto M.; Galí, Jordi - 2019
We analyze the welfare impact of greater wage flexibility while taking into account explicitly the existence of the … adverse effects of greater wage flexibility on welfare when the central bank follows a conventional Taylor rule. When demand … shocks are the driving force, the presence of the ZLB implies that an increase in wage flexibility reduces welfare even under …
Persistent link: https://www.econbiz.de/10011990051
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On the persistence of firm expansion: The survival of new jobs in Austrian firms
Böheim, René; Stiglbauer, Alfred; Winter-Ebmer, Rudolf - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm's and from a macro perspective. Adjustment cost theories and arguments about option values of...
Persistent link: https://www.econbiz.de/10010293739
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When and how to create a job: The survival of new jobs in Austrian firms
Böheim, René; Stiglbauer, Alfred; Winter-Ebmer, Rudolf - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm’s and from a macro perspective. Adjustment cost theories and arguments about option values...
Persistent link: https://www.econbiz.de/10010294519
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When and how to create a job: the survival of new jobs in Austrian firms
Böheim, René; Stiglbauer, Alfred M.; Winter-Ebmer, Rudolf - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firms and from a macro perspective. Adjustment cost theories and arguments about option values of...
Persistent link: https://www.econbiz.de/10010267397
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When and how to create a job : the survival of new jobs in Austrian firms
Böheim, René; Stiglbauer, Alfred; Winter-Ebmer, Rudolf - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm’s and from a macro perspective. Adjustment cost theories and arguments about option values...
Persistent link: https://www.econbiz.de/10009748275
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On the persistence of firm expansion : the survival of new jobs in Austrian firms
Böheim, René; Stiglbauer, Alfred; Winter-Ebmer, Rudolf - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm’s and from a macro perspective. Adjustment cost theories and arguments about option values...
Persistent link: https://www.econbiz.de/10009729669
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On the persistence of job creation in old and new firms
Böheim, René; Stiglbauer, Alfred; Winter-Ebmer, Rudolf - 2008
We suggest a new method to analyze the success of firm creation by looking at the persistence of new jobs created in old and in new firms. Compared to survival rates of new versus old firms, this measure has the advantage that the sustainability of job creation in different circumstances is...
Persistent link: https://www.econbiz.de/10009238451
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When and how to create a job : the survival of new jobs in Austrian firms
Böheim, René (contributor); Stiglbauer, Alfred (contributor) - 2005
While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firms and from a macro perspective. Adjustment cost theories and arguments about option values of...
Persistent link: https://www.econbiz.de/10002815677