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The Federal Reserve has made significant changes in its predisposition to release information over time. This paper reports the results of experimental asset markets designed to investigate how the public disclosure of uncertain information affects market and individual outcomes. In one set of...
Persistent link: https://www.econbiz.de/10010397406
USA, the major problem of most European countries is the high rate of unemployment of the low skilled. To integrate … currently discussed determinants of wage distribution and unemployment into a common context, labor unions and qualification … unemployment rates and a wage dispersion affected by production technology, wage setting procedure, and qualification structure of …
Persistent link: https://www.econbiz.de/10010291688
conditions are a major determinant of entrepreneurship. Higher local unemployment rates are found to increase the probability … individuals who are initially not employed respond more to high local unemployment rates by starting businesses than wage … influences resulting in higher levels of business creation. Using the regression estimates for the local unemployment rate …
Persistent link: https://www.econbiz.de/10010291884
-setting mechanisms and the cyclicality of unemployment in Euroland. We find that in the 1990s unemployment cyclicality has been higher in … still offer a convincing explanation for a significant part of Euroland's problem of persistently high unemployment. There …
Persistent link: https://www.econbiz.de/10010291917
equate the expected urban wage (given a downward rigid real wage in the urban sector) to the real wage. Unemployment is … endogenously determined. Interpreting unemployment as damage, urban pollution (damage denoted in units of labour) can also support … the same equilibrium with the value of damage equal to the value of resources otherwise lost through unemployment. However …
Persistent link: https://www.econbiz.de/10010291995
Many countries suffer from persistently high unemployment rates. The scope for labour market reforms is often limited …
Persistent link: https://www.econbiz.de/10010292036
-wanted ads and an unemployment subsidy, is highly contractionary. However, it leads to large welfare gains. The policy also plays …
Persistent link: https://www.econbiz.de/10010292153
This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment with ex ante identical workers and employers. Workers under fixed-term contracts can be dismissed at no cost while permanent employees enjoy labor protection. In a labor market...
Persistent link: https://www.econbiz.de/10010292231
costs influence insider wages and outsiders? opportunities and how these costs affect employment and unemployment. We also … address the more complex, and open, question of how employment and unemployment move through time, in response to labor market …
Persistent link: https://www.econbiz.de/10010292491
comparatively weak, we develop a model that identifies distributional consequences of unemployment with their importance conditional …-income countries, well-being significantly depends on income, in highincome countries on the unemployment-related Gini. Insofar, our …
Persistent link: https://www.econbiz.de/10010292647