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This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...
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not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters … to maintain their real wages by reducing labor demand still further. Furthermore, we argue inflationary pressures have …
Persistent link: https://www.econbiz.de/10013448558
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labor force participation rate, reversing a nearly 50-year trend; the full recovery of unemployment from the depths of the …
Persistent link: https://www.econbiz.de/10012012425
labor force participation rate, reversing a nearly 50-year trend; the nearly full recovery of unemployment from the depths …
Persistent link: https://www.econbiz.de/10011642273
Surveys of Youth, we find that negative labor market outcomes during high-unemployment periods are mitigated by exposure to a …
Persistent link: https://www.econbiz.de/10011791237
This article studies the responses of real wages and labour market flows of immigrants in Spain for the period between … for immigrants than for natives: a one percentage point increase in the unemployment rate is associated with a 0.61 and 0 ….85% drop in real wages for natives and immigrants, respectively. However, these differences only occur among low-tenure workers …
Persistent link: https://www.econbiz.de/10013252566
made in terms of several macroeconomic indicators, GDP, Unemployment, Inflation, Current Account Balances, and debt. …
Persistent link: https://www.econbiz.de/10009774315
In this paper we examine nominal earnings flexibility in Ireland during the Great Recession. The Irish case is particularly interesting because it has been one of the countries most affected by the crisis. Using tax return data that are free of reporting error and cover the entire population of...
Persistent link: https://www.econbiz.de/10011417244