Showing 1 - 10 of 70
This paper combines matching frictions with e¢ ciency wages to deter shirking in a model that is estimated for the USA and the UK to derive the underlying structural parameters. Methods robust to weak instruments are used to show that, for both countries, both matching frictions and efficiency...
Persistent link: https://www.econbiz.de/10010318955
The paper elaborates on the employment intensity of growth. Previous evidence regarding this question is surveyed. Empirical results concerning Europe and selected other industrial countries reveal that the cyclical link between unemployment and growth is still stable in the nineties. However,...
Persistent link: https://www.econbiz.de/10010260482
This paper provides evidence for the existence of a wage curve - a micro-econometric association between the level of pay and the local unemployment rate - in modern U.S. data. Consistent with recent evidence from more than 40 other countries, the wage curve in the United States has a long-run...
Persistent link: https://www.econbiz.de/10010267487
Europeans have worked less than Americans since the 1970s. In this paper, we quantify the relative importance of the extensive and intensive margins of aggregate hours of market work on the observed differences. Our counterfactual exercises show that the two dimensions of the extensive margin,...
Persistent link: https://www.econbiz.de/10010268973
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has...
Persistent link: https://www.econbiz.de/10010295319
Using matched March Current Population Surveys, we examine labor market transitions of husbands and wives. We find that the “added-worker effect”—the greater propensity of nonparticipating wives to enter the labor force when their husbands exit employment— is still important among a...
Persistent link: https://www.econbiz.de/10010283436
This paper considers the effect of a productivity shock when the unemployed worker risks a loss of skill. This divides the workers into short-term and long-term unemployment. In this economy, the short-term unemployed and long-term unemployed in the economy search for employment in the most...
Persistent link: https://www.econbiz.de/10014186016
From an international perspective, the European rate of unemployment has been relatively high and growing over the last one to two decades; on this background, the parallel rise in profit shares in a number of European countries seems to be at odds with expected economic behavior. The paper...
Persistent link: https://www.econbiz.de/10014203188
Using matched March Current Population Surveys, we examine labor market transitions of husbands and wives. We find that the "added-worker effect" - the greater propensity of nonparticipating wives to enter the labor force when their husbands exit employment - is still important among a subset of...
Persistent link: https://www.econbiz.de/10014221718
This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a global economy. It builds on the models of Davis (1997a,b) of trade between a flexible wage America and a rigid wage Europe. To this it adds a model of human capital...
Persistent link: https://www.econbiz.de/10014153544