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We propose a novel methodological approach to disentangle the main structural shocks affecting the US labour share of income during the immediate post-war era (1948Q1- 1984Q4) and the Great Moderation (1985Q1-2018Q3). We motivate a SVAR model in aggregate demand, unemployment rate, real wage and...
Persistent link: https://www.econbiz.de/10012150023
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...
Persistent link: https://www.econbiz.de/10010277955
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...
Persistent link: https://www.econbiz.de/10010278021
The purpose of this paper is to explore the microfoundations of the observed asymmetric movement in aggregate unemployment rates. Using U.S. data, we find that individual labor force participation responds asymmetrically to changes in local labor market conditions, consistent with the pattern of...
Persistent link: https://www.econbiz.de/10003730465
vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real …
Persistent link: https://www.econbiz.de/10003996447
vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real …
Persistent link: https://www.econbiz.de/10008779865
paper is threefold: first, we show that the model provides a good fit for employment and unemployment volatility, as well as … volatility of employment and unemployment. Finally, we show the role of search costs in shaping those results. -- matching …
Persistent link: https://www.econbiz.de/10009157609
A particular challenge for the macroeconomic models is their inability to match the joint dynamics of employment, wage … which ampli.es the responses of employment and output to exogenous shocks. Our model, consistent with the implications of …: First, we get considerable improvements for the employment, wage and output volatilities in response to technology and …
Persistent link: https://www.econbiz.de/10009157810
with results from the research on the German employment performance in the Great Recession which attributed part of the … employment success to the widespread use of instruments of internal flexibility. Our results confirm that generally, the …
Persistent link: https://www.econbiz.de/10011433362
We document that fluctuations in part-time employment play a major role in movements in hours per worker, especially … margin based on a stock-flow framework. The evolution of part-time employment is predominantly explained by cyclical changes … in transitions between full-time and part-time employment, which occur overwhelmingly at the same employer and entail …
Persistent link: https://www.econbiz.de/10011455784