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Trend growth, unemployment and optimal monetary policy
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2015
and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …
Persistent link: https://www.econbiz.de/10011300631
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the … "missing disinflation puzzle"), and a permanent gap between output and the pre-crisis trend output. In the model, lower …
Persistent link: https://www.econbiz.de/10012269664
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Trend growth, unemployment and optimal monetary policy
Lechthaler, Wolfgang; Tesfaselassie, Mewael - 2015
and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …
Persistent link: https://www.econbiz.de/10011301390
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the … "missing disinflation puzzle"), and a permanent gap between output and the pre-crisis trend output. In the model, lower …
Persistent link: https://www.econbiz.de/10012270555
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The German labor market in the Great Recession : shocks and institutions
Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2017
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 postunification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10011638405
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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
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Worker identity, employment fluctuations and stabilization policy
Snower, Dennis J.; Lechthaler, Wolfgang - 2013
This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...
Persistent link: https://www.econbiz.de/10009752694
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The German labor market during the Great Recession : shocks and institutions
Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2017
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/10011634724
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Worker Identity, Employment Fluctuations and Stabilization Policy
Snower, Dennis J. - 2013
This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...
Persistent link: https://www.econbiz.de/10013080876
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The German Labor Market During the Great Recession : Shocks and Institutions
Gehrke, Britta - 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/10012909849