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Does it matter when labor market reforms are implemented? : the role of the monetary policy environment
Lastauskas, Povilas; Stakénas, Julius - 2019
Do labor market reforms initiated in periods of loose monetary policy yield different outcomes from those that were introduced in periods when monetary tightening prevailed? Since economic theory usually pays attention to the steady state change and ignores business cycle interactions of...
Persistent link: https://www.econbiz.de/10012103994
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Neues von der NAIRU?
Franz, Wolfgang - 2000
Der Beitrag enthält eine Neuschätzung der inflationsstabilen Arbeitslosenquote (NAIRU) für Westdeutschland 1980 bis … 1998. Nach einer Darstellung des konzeptionellen Rahmens der NAIRU einschließlich verschiedener Varianten, welche … Probleme. Erstmalig werden für Westdeutschland dann eine zeitvariable NAIRU mit Hilfe des Kalman-Verfahrens sowie dazugehöriger …
Persistent link: https://www.econbiz.de/10011444884
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Unemployment rate benchmarks
Crump, Richard K.; Nekarda, Christopher J.; … - 2020
This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for assessing the current state of the economy as it relates to the pursuit of both price stability and maximum employment. In particular, we propose two broad categories of...
Persistent link: https://www.econbiz.de/10012389411
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Labor market effects of COVID-19 shocks
Frenkel, Michael; Stadtmann, Georg; Zimmermann, Lilli - In: International journal of management and economics 59 (2023) 1, pp. 3-12
We study the impact of several Covid-19 related supply shocks. We use a standard wage setting-price setting model of the labor market and analyze the transmission of the shocks to the natural rate of unemployment and production. In a first step, the shocks are analyzed in a general way,...
Persistent link: https://www.econbiz.de/10014310081
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Fiscal calculus in a New Keynesian model with matching frictions
Campolmi, Alessia; Faia, Ester; Winkler, Roland C. - 2010
The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can contrast rising unemployment. Is that really the case? We explore those issues in a New Keynesian model in which unemployment arises because of matching frictions. We compare fiscal...
Persistent link: https://www.econbiz.de/10010277245
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Experimental labor markets and policy considerations: Incomplete contracts and macroeconomic aspects
Casoria, Fortuna; Riedl, Arno - 2012
This survey focuses on experimental labor markets investigating two aspects that deem us important for a better understanding of labor market relations and the consequences for labor market policies. The first part of the survey is dedicated to papers that assess the prevalence of reciprocal...
Persistent link: https://www.econbiz.de/10010291344
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Fiscal calculus in a New Keynesian model with matching frictions
Campolmi, Alessia; Faia, Ester; Winkler, Roland - 2010
The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can contrast rising unemployment. Is that really the case? We explore those issues in a New Keynesian model in which unemployment arises because of matching frictions. We compare fiscal...
Persistent link: https://www.econbiz.de/10003940160
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Fiscal policy and the labour market : the effect of public sector employment and wages
Gomes, Pedro - 2010
I build a dynamic stochastic general equilibrium model with search and matching frictions and two sectors in order to study the labour market effects of public sector employment and wages. Public sector wages plays an important role in achieving the efficient allocation. High wages induce too...
Persistent link: https://www.econbiz.de/10009302182
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The distributional consequences of tax reforms under market distortions
Angelopoulos, Konstantinos; Jiang, Wei; Malley, James R. - 2011
In this paper we examine the importance of imperfect competition in product and labour markets in determining the long-run welfare effects of tax reforms assuming agent heterogeneity in capital holdings. Each of these market failures, independently, results in welfare losses for at least a...
Persistent link: https://www.econbiz.de/10009307947
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Budgetary policy and unemployment dynamics
Kaas, Leo; Thadden, Leopold von - 2001
We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an...
Persistent link: https://www.econbiz.de/10011419352