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We incorporate a wage-bargaining structure in a dynamic general equilibrium model and show how this feature changes short- and long-run properties of equilibria compared with a perfectly competitive setting.We discuss how employment, capital and income shares respond to wage-setting shocks and...
Persistent link: https://www.econbiz.de/10009471681
in East Germany after unification, the existence of unemployment traps, their influence on labor market persistence and …
Persistent link: https://www.econbiz.de/10009428998
This paper analyses the emergence of the informal economy in the environment characterised by non-competitive labour markets with wage bargaining. We develop a simple extension of the standard search model à la Pissarides (2000) with formal and informal sectors to show how a government’s...
Persistent link: https://www.econbiz.de/10009477503
Persistent link: https://www.econbiz.de/10010353189
This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in...
Persistent link: https://www.econbiz.de/10012530281
notifications of 1340/100 000 in 1996. These suburbs are characterised by overcrowding, high unemployment and poverty. It is … tuberculosis notifications were found with unemployment, overcrowding and number of shebeens per enumerator sub-district. High … tuberculosis notifications with unemployment and its associated poverty emerged as the strongest association. …
Persistent link: https://www.econbiz.de/10009442250
given to the unemployment rate. While several of the most recent models of unemployment show that the aggregate unemployment … rate in Australia does indeed behave differently during periods of low and high unemployment, none can explain what drives … the unemployment rate to increase at such a rapid rate and what contributes to its much slower decrease. Another central …
Persistent link: https://www.econbiz.de/10009438087
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff …
Persistent link: https://www.econbiz.de/10009441372
This article estimates the cost of a public investment-led job creation programme for the United Kingdom. A programme creating an additional one million jobs at the current average wage would involve a net cost to the Treasury dramatically lower than the gross cost; £17 billion worth of...
Persistent link: https://www.econbiz.de/10009441428
. However, depending upon the relative tightness of the local labour market (reflected in the rates of hiring and unemployment …. The significance of quits, hires, and unemployment are explored, in an attempt to explain differential urban wage …
Persistent link: https://www.econbiz.de/10009441464