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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
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
low wages to this individual unemployment to signal a high reservation wage. -- strategic unemployment ; asymmetric …
Persistent link: https://www.econbiz.de/10003892041
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/10011401500
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/10011412072
Understanding what moves the Phillips curve is important to monetary policy. Because the Phillips curve has experienced over time movements similar to those characterizing the Beveridge curve, the authors jointly analyze the two phenomena. They do that through an agent-based macro model based on...
Persistent link: https://www.econbiz.de/10011723850