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We assess the role of banks in the Paycheck Protection Program (PPP), a large and unprecedented small-business support program instituted as a response to the COVID-19 crisis in the United States. In 2020, the PPP administered more than $525 billion in loans and grants to small businesses...
Persistent link: https://www.econbiz.de/10013310111
Many firms adjust employment in a "lumpy" manner -- infrequently and in large bursts. In this paper, I show that lumpy adjustments can arise from concerns about the incentives of remaining workers. Specifically, I develop a model in which a firm's productivity depends on its workers' effort and...
Persistent link: https://www.econbiz.de/10011709242
identified: old-age pensions, conventional early retirement, disability insurance, and unemployment insurance are the most …
Persistent link: https://www.econbiz.de/10010223618
force participation is high and the unemployment rate is low (also for young workers). Among the unemployed there are … the relevant labor market in-stitutions in the Netherlands and use recent reforms to assess the importance of the … ; labor market reforms ; participation ; unemployment ; disability …
Persistent link: https://www.econbiz.de/10003912104
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...
Persistent link: https://www.econbiz.de/10005000439
unemployment. We show that the incentive power of the equilibrium wage contract is constrained socially efficient in the absence of … unemployment benefits. We then apply the model to explain the recent increase in performance-pay contracts. Within our model, this … factors is an increase in the equilibrium unemployment rate. …
Persistent link: https://www.econbiz.de/10005644749
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits … aggregate unemployment rate. Structural estimation using a German micro-data set (SOEP) allows us to discuss the effects of a … recent unemployment benefit reform (Hartz IV). The reform reduced unemployment by only 0.3%. Contrary to general beliefs, we …
Persistent link: https://www.econbiz.de/10003966983
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits … aggregate unemployment rate. Structural estimation using a German micro-data set (SOEP) allows us to discuss the effects of a … recent unemployment benefit reform (Hartz IV). The reform reduced unemployment by only 0:3%. Contrary to general beliefs, we …
Persistent link: https://www.econbiz.de/10008826254
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits … aggregate unemployment rate. Structural estimation using a German micro-data set (SOEP) allows us to discuss the effects of a … recent unemployment benefit reform (Hartz IV). The reform reduced unemployment by only 0.3%. Contrary to general beliefs, we …
Persistent link: https://www.econbiz.de/10003974164
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits … aggregate unemployment rate. Structural estimation using a German micro-data set (SOEP) allows us to discuss the effects of a … recent unemployment benefit reform (Hartz IV). The reform reduced unemployment by only 0.3%. Contrary to general beliefs, we …
Persistent link: https://www.econbiz.de/10013141761