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In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014507553
model of equilibrium unemployment. We find that higher firing costsmay even reduce temporary work agency employment if …-term employment arrangements. -- employment protection ; temporary work agencies ; search and matching models ; unemployment …
Persistent link: https://www.econbiz.de/10003794107
effect of unemployment on life satisfaction. -- ordered response ; panel data ; correlated heterogeneity ; incidental …
Persistent link: https://www.econbiz.de/10009236781
effect of unemployment on life satisfaction. -- ordered response ; panel data ; correlated heterogeneity ; incidental …
Persistent link: https://www.econbiz.de/10009125046
) from unemployment – i.e., the target group for entrepreneurship incentives – strongly increases the probability of … switching back to unemployment. Thus, entrepreneurship and higher education policies should be considered together in order to …
Persistent link: https://www.econbiz.de/10014185542
sector in a model of equilibrium unemployment. We find that higher firing costs may even reduce temporary work agency …
Persistent link: https://www.econbiz.de/10010298743
In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring cost and constant returns of labor, the bargaining...
Persistent link: https://www.econbiz.de/10010262510
This paper provides a critique of the ?unemployment invariance hypothesis,? according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …
Persistent link: https://www.econbiz.de/10010265548
This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …
Persistent link: https://www.econbiz.de/10010281026
This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions...
Persistent link: https://www.econbiz.de/10003715729