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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2006
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10012783591
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2016
In this paper we incorporate a labor market with matching frictions and wage …
Persistent link: https://www.econbiz.de/10012991192
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Wage rigidity and labor market dynamics with sorting
Schulz, Bastian - 2015
-Mortensen-Pissarides (DMP) search and matching model. Ex-ante heterogeneity and sorting have important implications for the dynamic properties … market. Additionally, endogenous matching sets fluctuate in response to shocks and amplify job-creation. Using a standard …, the firms' matching sets are wider in equilibrium than the workers' matching sets and fluctuate more in response to shocks. …
Persistent link: https://www.econbiz.de/10011280707
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How cyclical is the user cost of labor?
Kudlyak, Marianna - 2024
In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014507553
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Specific Capital and Vintage Effects on the Dynamics of Unemployment and Vacancies
Eyigungor, Burcu - 2019
In a reasonably calibrated Mortensen and Pissarides matching model, shocks to average labor productivity can account …
Persistent link: https://www.econbiz.de/10012706057
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The high sensitivity of employment to agency costs : the relevance of wage rigidity
Hristov, Atanas - 2010
cycles. Economic Theory, 12(3):583-597]. The aim of this article is to show that financing constraints can substantially …
Persistent link: https://www.econbiz.de/10008663379
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10010270767
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Wage rigidity and job creation
Häfke, Christian; Sonntag, Marcus; Rens, Thijs van - 2009
. -- Wage Rigidity ; Search and Matching Model ; Business Cycle …
Persistent link: https://www.econbiz.de/10003827155
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Wage Rigidity and Job Creation
Haefke, Christian - 2007
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as suggested by the model, which would explain why...
Persistent link: https://www.econbiz.de/10012729156
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Wage Rigidity and Job Creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2021
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10013324956