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On the interplay between Keynesian and supply side economics
Karanassou, Marika; Snower, Dennis J. - 2007
largely unexplored, set of determinants of the effectiveness of Keynesian and supply-side economic policies. -- unemployment … ; employment ; wage setting ; labour force participation ; labour market dynamics ; unemployment persistence ; imperfect … unemployment responsiveness …
Persistent link: https://www.econbiz.de/10009736646
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The effects of productivity and benefits on unemployment : breaking the link
Brown, Alessio J. G.; Kohlbrecher, Britta; Merkl, Christian - 2017
quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … model, unemployment benefits affect households' behavior directly, without having to run via the bargained wage. A … effect of benefits on unemployment. Our analysis shows the importance of investigating the effects of policies on the …
Persistent link: https://www.econbiz.de/10011625891
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The effects of productivity and benefits on unemployment : breaking the link
Brown, Alessio J. G.; Kohlbrecher, Britta; Merkl, Christian - 2017
quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … model, unemployment benefits affect households' behavior directly, without having to run via the bargained wage. A … effect of benefits on unemployment. Our analysis shows the importance of investigating the effects of policies on the …
Persistent link: https://www.econbiz.de/10012111816
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A theory of wage adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...
Persistent link: https://www.econbiz.de/10010440552
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A theory of wage adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...
Persistent link: https://www.econbiz.de/10010457894
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A theory of wage adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...
Persistent link: https://www.econbiz.de/10010465159
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An incentive theory of matching
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009
empirical regularities that the conventional matching model cannot. -- Matching ; incentives ; adjustment costs ; unemployment …
Persistent link: https://www.econbiz.de/10003827234
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2010
sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in …
Persistent link: https://www.econbiz.de/10003937114
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An incentive theory of matching
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009
empirical regularities that the conventional matching model cannot. -- Matching ; incentives ; adjustment costs ; unemployment …
Persistent link: https://www.econbiz.de/10003832116
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang (contributor);  … - 2008
It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...
Persistent link: https://www.econbiz.de/10003719627