its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …

Hiring is a costly activity reflecting firms' investment in their workers. Microdata show that hiring costs involve … optimal allocation of hiring activities. We outline a mechanism based on cyclical markup fluctuations, placing emphasis on … hiring frictions interacting with price frictions. This mechanism generates strong propagation and amplification of all key …

-looking hiring and labor supply decisions, efficiency entails both static and intertemporal margins. We develop welfare …-finding rates, in line with empirical evidence. We show analytically in a simplified version of the model that volatility arises …

. Indeterminacy disappears completely when vacancy posting costs are replaced with hiring costs. …

vacancies) divided by the volatility of labor productivity is roughly twice as large as in the United States. We derive and …This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility …