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High discounts and low fundamental surplus : an equivalence result for unemployment fluctuations
Mitra, Indrajit; Seo, Taeuk; Xu, Yu - 2021
Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they call the "fundamental surplus." However, their analysis ignores risk premia, a force that Hall (2017) shows is important in understanding unemployment fluctuations. We show how...
Persistent link: https://www.econbiz.de/10012649569
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The relevance of post-match LTC : why has the Spanish labor market become as volatile as the US one?
Sala, Hector (contributor); Silva, José Ignacio (contributor) - 2005
market has become as volatile as the US one. -- search ; matching ; training ; firing costs ; productivity differentials …
Persistent link: https://www.econbiz.de/10003158646
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The Relevance of Post-Match Ltc : Why Has the Spanish Labor Market Become as Volatile as the Us One?
Sala, Hector; Silva, José I. - 2021
We present a Search and Matching model with heterogeneous workers (entrants and incumbents) that replicates the stylized facts characterizing the US and the Spanish labor markets. Under this benchmark, we find the Post-Match Labor Turnover Costs (PMLTC) to be the centerpiece to explain why the...
Persistent link: https://www.econbiz.de/10013318172
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Experience and worker flows
Gorry, Aspen - In: Quantitative economics : QE ; journal of the … 7 (2016) 1, pp. 225-255
This paper studies the role of worker learning in a labor market where workers have incomplete information about the quality of their employment match. The amount of information about the quality of a new match depends on a worker’s past job experience. Allowing workers to learn from...
Persistent link: https://www.econbiz.de/10011798979
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Global trends in income inequality and income dynamics : new insights from GRID
Guvenen, Fatih; Pistaferri, Luigi; Violante, Giovanni L. - In: Quantitative economics : QE ; journal of the … 13 (2022) 4, pp. 1321-1360
The Global Repository of Income Dynamics (GRID) is a new open-access, cross- country database that contains a wide range of micro statistics on income in- equality, dynamics, and mobility. It has four key characteristics: it is built on micro panel data drawn from administrative records; it...
Persistent link: https://www.econbiz.de/10014306231
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Temporary employment, demand volatility and unions : firm-level evidence
Devicienti, Francesco; Naticchioni, Paolo; Ricci, Andrea - 2015
extensive use of temporary workers. Furthermore, these effects are at work only for the use of non-training temporary contracts …, while training temporary contracts are not affected by unions, volatility and their interplay. We argue that this occurs … because non-training temporary contracts can be used by firms as a buffer stock to cope with uncertainty and by unions to …
Persistent link: https://www.econbiz.de/10011347153
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10010270767
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Wage rigidity and job creation
Häfke, Christian; Sonntag, Marcus; Rens, Thijs van - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10003827155
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Wage Rigidity and Job Creation
Haefke, Christian - 2007
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as suggested by the model, which would explain why...
Persistent link: https://www.econbiz.de/10012729156
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Wage Rigidity and Job Creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2021
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10013324956