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Aging and Pensions in General Equilibrium : Labor Market Imperfections Matter
de la Croix, David - 2010
This paper re-examines the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging)...
Persistent link: https://www.econbiz.de/10013136497
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Labor market frictions and macroeconomic shocks
Braun, Helge - 2006
Persistent link: https://www.econbiz.de/10003971739
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A tale of two countries : a story of the French and US polarization
Albertini, Julien; Hairault, Jean-Olivier; Langot, François - 2017
This study investigates job polarization in the United States and in France. In the data, the dynamics of employment shares for abstract, routine, and manual jobs appear very similar in the two countries. This similarity actually hides major differences in the dynamics of employment levels by...
Persistent link: https://www.econbiz.de/10011732027
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Fast micro and slow macro: can aggregation explain the persistence of inflation?
Mojon, Benoît; Altissimo, Filippo; Zaffaroni, Paolo - 2007
inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a … dynamic factor model for 404 inflation sub-indices of the euro area CPI. This allows to decompose the dynamics of inflation … the overall variance of the 404 disaggregate inflation series, is the main driver of aggregate dynamics. In addition, the …
Persistent link: https://www.econbiz.de/10011604775
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Supply-Side Policies in the Depression : Evidence from France
Cohen-Setton, Jeremie - 2017
The effects of supply-side policies in depressed economies are controversial. We shed light on this debate using evidence from France in the 1930s. In 1936, France departed from the gold standard and implemented mandatory wage increases and hours restrictions. Deflation ended but output...
Persistent link: https://www.econbiz.de/10012961522
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Aging and pensions in general equilibrium : labor market imperfections matter
De la Croix, David; Pierrard, Olivier; Sneessens, Henri R. - 2010
This paper re-examines the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging)...
Persistent link: https://www.econbiz.de/10009155050
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Land collateral and labor market dynamics in France
Kaas, Leo; Pintus, Patrick A.; Ray, Simon - 2014
The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of...
Persistent link: https://www.econbiz.de/10010412305
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Land Collateral and Labor Market Dynamics in France
Kaas, Leo - 2014
The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of...
Persistent link: https://www.econbiz.de/10013046052
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Land Collateral and Labor Market Dynamics in France
Kaas, Leo - 2015
The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of...
Persistent link: https://www.econbiz.de/10013031144
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It's About Time : Implications of the Period Length in an Equilibrium Job Search Model
Wolthoff, Ronald P. - 2011
This paper analyzes the role of the period length in a search model of the labor market and argues that it has profound implications for the market equilibrium. In the model, job offers and job destruction shocks arrive according to a Poisson process in continuous time, but institutional factors...
Persistent link: https://www.econbiz.de/10013119736