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Uncovering the mechanism(s): financial constraints and wages

Arabzadeh, Hamzeh; Balleer, Almut; Gehrke, Britta - 2020

How do wages respond to financial recessions? Based on a dynamic macroeconomic model with frictions in the labor and … and explore their effect on wages. First, the financial labor wedge reduces wages. Second, financial constraints may … interact with aggregate labor market conditions in various ways putting upward or downward pressure on wages. We test partial …

Persistent link: https://www.econbiz.de/10012389827

Product scope and endogenous fluctuations

Pavlov, Oscar; Weder, Mark - 2015

Persistent link: https://www.econbiz.de/10010528642

The German labor market during the Great Recession : shocks and institutions

Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018

This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...

Persistent link: https://www.econbiz.de/10011916540

News about aggregate demand and the business cycle : conference paper

Guo, Jang-ting; Sirbu, Anca-Ioana; Weder, Mark - 2014

We show that an otherwise standard one-sector real business cycle model with variable capital utilization and mild increasing returns-to-scale is able to generate qualitatively as well as quantitatively realistic aggregate fluctuations driven by news shocks to two formulations of future...

Persistent link: https://www.econbiz.de/10010480670

Does short-time work save jobs? : a business cycle analysis

Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - 2013

In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important distinction to be made: While the rule-based component...

Persistent link: https://www.econbiz.de/10009763124

Does short-time work save jobs? : a business cycle analysis ; conference paper

Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - 2013

This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether short-time work saves jobs in recessions. In our baseline scenario the rule based component of short-time work (i.e.,...

Persistent link: https://www.econbiz.de/10010344643