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employment gap under stagnation are primarily driven by uctuations in underemployment instead of structural unemployment. Our … economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … explain movements of unemployment and underemployment in opposite directions. Finally, we show that uctuations in the total …
Persistent link: https://www.econbiz.de/10012216141
In this paper, we show that underemployment and not necessarily high unemployment becomes the main measure of economic … slack under secular stagnation. Specifically, persistent underemployment occurs in the search and matching model, provided … and cost shocks can explain movements of unemployment and underemployment in opposite directions, while demand and supply …
Persistent link: https://www.econbiz.de/10013243830
employment gap under stagnation are primarily driven by fluctuations in underemployment instead of structural unemployment. Our … economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … explain movements of unemployment and underemployment in opposite directions. Finally, we show that fluctuations in the total …
Persistent link: https://www.econbiz.de/10012832192
The construction bust which accompanied the Great Recession, and the accompanying need to shift workers across sectors, have provoked a discussion about mismatch and the Beveridge Curve, alongside a discussion about firm-level dispersion. These discussions echo an ongoing discussion about the...
Persistent link: https://www.econbiz.de/10010360956
In many developing economies rate of unemployment is increasing with skill accumulation and thereby leading to … underemployment. Our paper offers to look at skill formation as a demand side problem not as a traditional supply side problem and … also how skill formation or education affects unemployment among the remaining uneducated. We have developed a general …
Persistent link: https://www.econbiz.de/10012612938
This paper analyses the influence of norms of fairness on wage formation. Fairness is defined by "real-wage" and "relative-wage" norms that relate wage offers to workers' own current wage and to the wages of other groups of workers, and, to avoid shirking, firms pay fair wages. The wage norms...
Persistent link: https://www.econbiz.de/10011527150
Government schemes that compensate workers for the loss of income while they are on short hours (known as short-time work compensation schemes) make it easier for employers to temporarily reduce hours worked so that labor is better matched to output requirements. Because the employers do not lay...
Persistent link: https://www.econbiz.de/10011413675
unemployment. Second, we construct a New Keynesian model with heterogeneous workers and firms, incomplete asset markets, and labor … level and volatility of both the separation and unemployment rate at the cost of tying workers to less productive firms …
Persistent link: https://www.econbiz.de/10015135364
and constant demand, the rate of unemployment of educated workers in the domestic labor market will increase. Thus, the … prospect of employment abroad causes involuntary "educated unemployment" at home. A government that is concerned about … "educated unemployment" and might therefore be expected to encourage unemployed educated people to migrate will nevertheless …
Persistent link: https://www.econbiz.de/10008991815
and constant demand, the rate of unemployment of educated workers in the domestic labor market will increase. Thus, the … prospect of employment abroad causes involuntary "educated unemployment" at home. A government that is concerned about … "educated unemployment" and might therefore be expected to encourage unemployed educated people to migrate will nevertheless …
Persistent link: https://www.econbiz.de/10008779024