Does capital-embodied technological change play an important role in shaping labor market outcomes? To address this question, we develop a model with vintage capital and search-matching frictions where irreversible investment in new vintages of capital creates heterogeneity in productivity among...

"We analyze unemployment dynamics for Germany on a regional basis by means of an approximate factor model. We first estimate the number of factors corresponding to the number of cycles. At least for the pre-'Hartz' reform data we find strong evidence for more than just one dynamic labor market...

"We analyze unemployment dynamics for Germany on a regional basis by means of an approximate factor model. We first estimate the number of factors corresponding to the number of cycles. At least for the pre-'Hartz' reform data we find strong evidence for more than just one dynamic labor market...

Arbeitnehmerfreizügigkeit innerhalb der Europäischen Union führt nicht zu Belastungen des Arbeitsmarktes und der Sozialversicherungen. Zu diesem Ergebnis kommt eine aktuelle Forschungsarbeit über die Entwicklungen und Folgen der Ost-West-Migration nach den jüngsten Erweiterungsrunden der...

This paper studies the role of wage moderation and labour and product market regulation for employment creation. To this end, labour demand estimates are presented for the five largest euro area countries at the aggregate level and for three macro sectors: manufacturing, construction and...

We analyze unemployment dynamics for Germany on a regional basis by means of an approximate factor model. We first estimate the number of factors corresponding to the number of cycles. At least for the pre-'Hartz' reform data we find strong evidence for more than just one dynamic labor market...

This paper investigates the macroeconomic effects of job creation schemes and vocational training on the matching processes in West Germany. The empirical analysis is based on regional data for local employment office districts for the period from 1999 to 2003. The empirical model relies on a...

Labor market institutions, via their effect on the wage structure, affect the investment decisions of firms in labor markets with frictions. This observation helps explain rising wage inequality in the US, but a relatively stable wage structure in Europe in the 1980s. These different trends are...

In this paper we investigate the importance of labor market institutions such as unemployment insurance, unions, firing regulation and minimum wages for the evolution of wage inequality across countries. We derive a simple log-linear equation of the wage differential as a function of the...

In this paper we study the structure of labor market flows in Spain and compare them with France and the US. We characterize a number of empirical regularities and stylized facts. One striking result is that the job finding rate is slightly higher than in France, while the job loss rate is much...