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Heterogeneity in macroeconomics and the minimal econometricinterpretation for model comparison
Cozzi, Marco - 2014
macroeconomic policies and welfare analysis. It is also found that the other models display similar posterior odds, with the Bayes … correlation between consumption and income. This finding suggests that the magnitude of welfare effects computations is likely to …
Persistent link: https://www.econbiz.de/10010434845
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Aggregate and Idiosyncratic Risk in a Frictional Labor Market
Rudanko, Leena - Department of Economics, Boston University - 2008
Economists face difficulties explaining the strong cyclicality of US unemployment. This paper contributes both by developing modeling tools and evaluating a potentially important explanation. The paper develops a parsimonious equilibrium model of job search with aggregate productivity shocks,...
Persistent link: https://www.econbiz.de/10004991578
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What Have We Learned About the Employment Effects of Severance Pay? Further Iterations of Lazear Et Al
Addison, John T.; Teixeira, Paulino - 2021
In this study we examine the contribution of severance pay to employment and unemployment development using data on industrialized OECD countries. Our starting point is Lazear's (1990) empirical dictum that severance payment requirements adversely impact the labor market. We extend his sample...
Persistent link: https://www.econbiz.de/10013319624
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A Fair Wage Explanation of Labour Market Volatility
Jump, Robert - 2014
This paper proposes an explanation for observed differences in the business cycle volatility of employment and unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model, increases in the gross replacement rate of public...
Persistent link: https://www.econbiz.de/10010456968
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A Fair Wage Explanation of Labour Market Volatility
Jump, Robert - School of Economics, University of Kent - 2014
This paper proposes an explanation for observed differences in the business cycle volatility of employment and unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model, increases in the gross replacement rate of public...
Persistent link: https://www.econbiz.de/10011099431
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A fair wage explanation of labour market volatility
Jump, Robert - 2014
This paper proposes an explanation for observed differences in the business cycle volatility of employment and unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model, increases in the gross replacement rate of public...
Persistent link: https://www.econbiz.de/10010437753
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Macroeconomic Evaluation of Labor Market Reform in Germany
Krebs, Tom; Scheffel, Martin - 2012
-term unemployed. In this paper, we use an incomplete-market model with search unemployment to evaluate the macro-economic and welfare …-run (noncyclical)unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases …, but the welfare of unemployed households decreases even with moderate degree of risk aversion. …
Persistent link: https://www.econbiz.de/10011441825
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Macroeconomic Evaluation of Labor Market Reform in Germany
Krebs, Tom; Scheffel, Martin - Abteilung für Volkswirtschaftslehre, Universität Mannheim - 2012
-term unemployed. In this paper, we use an incomplete-market model with search unemployment to evaluate the macro-economic and welfare …-run (noncyclical)unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases …, but the welfare of unemployed households decreases even with moderate degree of risk aversion. …
Persistent link: https://www.econbiz.de/10010904016
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Macroeconomic evaluation of labor market reform in Germany
Krebs, Tom; Scheffel, Martin - 2012
-term unemployed. In this paper, we use an incomplete-market model with search unemployment to evaluate the macro-economic and welfare …-run (noncyclical)unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases …, but the welfare of unemployed households decreases even with moderate degree of risk aversion. …
Persistent link: https://www.econbiz.de/10011490127
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Understanding severance pay
Parsons, Donald O. - 2013
Severance pay, a fixed-sum payment to workers at job separation, has been the focus of intense policy concern for the last several decades, but much of this concern is unearned. The design of the ideal separation package is outlined and severance pay emerges as a natural component of job...
Persistent link: https://www.econbiz.de/10010195446