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Strong hysteresis in the labour market (see Cross, 1995) requires workers to be heterogeneous in terms of the cost of hiring and firing. We show how such heterogeneity arises naturally in labour markets due to differences in workers’ age by showing that both the hiring and the firing...
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We estimate the relationship between investment and unemployment in order to explore whether the medium …
Persistent link: https://www.econbiz.de/10011782019
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OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a … unemployment by the first principal component. This factor has a natural interpretation as a measure of global expected returns … estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market …
Persistent link: https://www.econbiz.de/10003729654
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a … unemployment by the first principal component. This factor has a natural interpretation as a measure of global expected returns … estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market …
Persistent link: https://www.econbiz.de/10003486579
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Persistent link: https://www.econbiz.de/10009304663
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a … unemployment by the first principal component. This factor has a natural interpretation as a measure of global expected returns … estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market …
Persistent link: https://www.econbiz.de/10003631641