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High discounts and low fundamental surplus : an equivalence result for unemployment fluctuations

Mitra, Indrajit; Seo, Taeuk; Xu, Yu - 2021

Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they call the "fundamental surplus." However, their analysis ignores risk premia, a force that Hall (2017) shows is important in understanding unemployment fluctuations. We show how...

Persistent link: https://www.econbiz.de/10012649569

An analysis of labour adjustment costs in unionized economies

Modesto, Leonor; Thomas, Jonathan P. - 2000

period and firms react by choosing employment, and (ii) for the commitment equilibria where the union can precommit to the … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …

Persistent link: https://www.econbiz.de/10001567020

An analysis of labour adjustment costs in unionized economies

Modesto, Leonor; Thomas, Jonathan P. - 2000

Persistent link: https://www.econbiz.de/10011339692

Downskilling : changes in employer skill requirements over the business cycle

Sasser, Alicia; Shoag, Daniel W.; Ballance, Joshua - 2016 - This version: July 2016

Using a novel database of 82.5 million online job postings, we show that employer skill requirements fell as the labor market improved from 2010 to 2014. We find that a 1 percentage point reduction in the local unemployment rate is associated with a roughly 0.27 percentage point reduction in the...

Persistent link: https://www.econbiz.de/10011536223

The macroeconomics of automation : data, theory, and policy analysis

Jaimovich, Nir; Saporta-Eksten, Itay; Siu, Henry E.; … - 2020

of routine employment and its consequent impacts on inequality. …

Persistent link: https://www.econbiz.de/10012161124

No longer qualified? : changes in the supply and demand for skills within occupations

Burke, Mary A.; Sasser, Alicia; Sadighi, Shahriar; … - 2020 - This version: October 2019

Using a novel database of 159 million online job postings, we examine changes in employer skill requirements for education and specific skillsets between 2007 and 2017. We find that upskilling - in terms of increasing demands for bachelor's degrees as well as software skills - was a persistent...

Persistent link: https://www.econbiz.de/10012224850

No longer qualified? : changes in the supply and demand for skills within occupations

Sasser, Alicia; Burke, Mary A.; Sadighi, Shahriar; … - 2023

Although labor market "mismatch" often refers to an imbalances in supply and demand across occupations, mismatch within occupations can arise if skill requirements are changing over time, potentially reducing aggregate matching efficiency within the labor market. To test this, we examine changes...

Persistent link: https://www.econbiz.de/10014419499

Labor market and macroeconomic dynamics in Latin America amid COVID : the role of digital adoption policies

Finkelstein Shapiro, Alan; Nuguer, Victoria - 2022

recession and in its aftermath, including the sharp decline in labor force participation and informal employment that is unique … technologies introduced at the trough of the recession bolsters the recovery of GDP, total employment, and labor income, and leads … to a larger expansion in the share of formal employment compared to the no-policy scenario. In the long run, the economy …

Persistent link: https://www.econbiz.de/10014496287

Imperfect information, lagged labor adjustment and the great moderation

Willems, Tim; Wijnbergen, Sweder van - 2012

This paper first documents the increase in the time lag with which labor input reacts to output fluctuations (the labor adjustment lag) that is visible in US data since the mid-1980s. We show that a lagged labor adjustment response is optimal in a setting where there is uncertainty about the...

Persistent link: https://www.econbiz.de/10011378349

The impact of institutions on the employment performance in European labour markets

Buscher, Herbert S.; Dreger, Christian; Ramos, Raúl; … - 2005

. Labour demand is expressed by its structural parameters, such as the elasticities of employment to output and factor prices …. Institutional variables include employment protection legislation, the structure of wage bargaining, measures describing the tax and … transfer system and active labour market policies. As cointegration between employment, output and factor prices is detected …

Persistent link: https://www.econbiz.de/10003085749