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endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers … replacement rate can be more effective compared to an increase of the unemployment benefit replacement rate. …
Persistent link: https://www.econbiz.de/10012517675
recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … frictions featuring an endogenous firing and short-time work decision. In recessions, short-time work reduces the unemployment …
Persistent link: https://www.econbiz.de/10013332143
at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment … the unemployment rate displays time-varying volatility and skewness, with peaks coinciding with the Global Financial … risk defined as the possible joint event of large increases in the unemployment rate and large annual rates of inflation …
Persistent link: https://www.econbiz.de/10014362647
Uncertainty shocks are found to adversely affect labor market outcomes. Most studies attribute labor adjustments costs for the propagation of macroeconomic uncertainty to the labor market. Given that large establishments in Germany face higher labor adjustments cost, they should be affected more...
Persistent link: https://www.econbiz.de/10012614112
Zahlreiche Studien zeigen, dass sich Unsicherheitsschocks negativ auf den Arbeitsmarkt auswirken. Als Ursache für die … Transmission von Unsicherheitsschocks auf den Arbeitsmarkt werden in den meisten Studien die Anpassungskosten der Beschäftigung …
Persistent link: https://www.econbiz.de/10012607557
economically by the conflict in Ukraine, although employment is projected to fall in these regions in 2023, unemployment will rise … in conditions of uncertainty, is superimposed by the reluctance of firms to part with valuable employees.Unemployment in …
Persistent link: https://www.econbiz.de/10014357315
The paper uses MULTIMOD to examine the implications of uncertain exchange rate pass-through for the conduct of monetary policy. From the policymaker's perspective, uncertainty about exchange rate pass-through implies uncertainty about policy multipliers and the impact of state variables on...
Persistent link: https://www.econbiz.de/10012782994
This paper analyzes the effects of output volatility shocks and of risk appetite shocks on the dynamics of consumption, trade flows and the real exchange rate, in a two-country world with recursive preferences and complete financial markets. When the risk aversion coefficient exceeds the inverse...
Persistent link: https://www.econbiz.de/10012970180
This paper analyzes the effects of output volatility shocks and of risk appetite shocks on the dynamics of consumption, trade flows and the real exchange rate, in a two-country world with recursive preferences and complete financial markets. When the risk aversion coefficient exceeds the inverse...
Persistent link: https://www.econbiz.de/10013011666
The paper analyzes the consumption-real exchange rate anomaly in a multi-country model with complete markets under various preference specifications: (i) standard time-additive preferences; (ii) recursive preferences of Epstein and Zin; and (iii) habit formation preferences of Campbell and...
Persistent link: https://www.econbiz.de/10012848012