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by investments in R&D performed in the high-wage sector. Unemployment is determined by the costs and benefits of waiting … for a high-paid job. The wage structure, growth, and unemployment are shown to depend on the way effort is extracted. …
Persistent link: https://www.econbiz.de/10011326411
We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010276418
We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010276421
by investments in R&D performed in the high-wage sector. Unemployment is determined by the costs and benefits of waiting … for a high-paid job. The wage structure, growth, and unemployment are shown to depend on the way effort is extracted. …
Persistent link: https://www.econbiz.de/10010324907
relative wage of the skilled. Increasing unemployment results only for a restrictive assumption about labor market rigidities. …
Persistent link: https://www.econbiz.de/10010333017
This paper presents a general-equilibrium model of Innovation, endogenous growth, and unemployment in a disaggregated … economy. Unemployment is analyzed w ithin a dual labor market setting, where the labor market is consisting of a primary high … the economy's growth rate and the equilibrium unemployment rate. It can be shown in comparative static analyses, that the …
Persistent link: https://www.econbiz.de/10010435463
that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010281021
This paper introduces the age structure of the population into the analysis of medium term unemployment swings. We … incorporate age-related features into the Shapiro-Stiglitz shirking model and find that the observed age pattern of unemployment … particular the ageing of the baby-boom generation - has caused OECD wide unemployment to be 50 basis points lower than what it …
Persistent link: https://www.econbiz.de/10014075453
Should monetary policy offset the effects of labor supply shocks on inflation and the output gap? Canonical New Keynesian models answer yes. Motivated by weak labor force participation during the pandemic, we reexamine the question by introducing labor force entry and exit in an otherwise...
Persistent link: https://www.econbiz.de/10014083431
This paper studies the relationship between the change in the unemployment rate and output growth using an approach …
Persistent link: https://www.econbiz.de/10012906935