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State dependence in labor market fluctuations
Pizzinelli, Carlo; Theodoridis, Konstantinos; Zanetti, … - 2020
This paper documents state dependence in labor market fluctuations. Using aThreshold Vector Autoregression model (TVAR), we establish that the unemployment rate, the job separation rate, and the job finding rate exhibit a larger response to productivity shocks during periods with low aggregate...
Persistent link: https://www.econbiz.de/10012179347
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What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2016
Persistent link: https://www.econbiz.de/10012991192
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2006
cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10012783591
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Flexible prices, labor market frictions, and the response of employment to technology shocks
Mandelman, Federico S.; Zanetti, Francesco - 2013
Recent empirical evidence establishes that a positive technology shock leads to a decline in labor inputs. Can a … response of employment to a technology shock. We find that labor market frictions account for the fall in labor inputs. …
Persistent link: https://www.econbiz.de/10010209115
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Technology shocks, employment and labour market frictions
Mandelman, Federico S.; Zanetti, Francesco - 2010
Recent empirical evidence suggests that a positive technology shock leads to a decline in labour inputs. However, the … of employment to a technology shock. The results of the estimation support the hypothesis that labour market frictions … are the factor responsible for the negative response of employment. -- Technology shocks ; employment ; labour market …
Persistent link: https://www.econbiz.de/10003969377
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Technology Shocks, Employment, and Labor Market Frictions
Mandelman, Federico; Zanetti, Francesco - 2014
Recent empirical evidence suggests that a positive technology shock leads to a decline in labor inputs. However, the … employment to a technology shock. The results of the estimation support the hypothesis that labor market frictions are …
Persistent link: https://www.econbiz.de/10014048964
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Technology Shocks, Employment and Labour Market Frictions
Mandelman, Federico - 2010
Recent empirical evidence suggests that a positive technology shock leads to a decline in labour inputs. However, the … of employment to a technology shock. The results of the estimation support the hypothesis that labour market frictions …
Persistent link: https://www.econbiz.de/10013142666
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Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area
Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12
In this paper, we show that in order to obtain a sound identification of Euro Area monetary policy shocks, one needs to deal with the interaction of the European Central Bank and the US Federal Reserve. In other words, a proper identification of monetary policy shocks for an open economy like...
Persistent link: https://www.econbiz.de/10013168711
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...
Persistent link: https://www.econbiz.de/10012157899