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Staggered wages, sticky prices, and labor market dynamics in matching models
Neugebauer, Janett; Wesselbaum, Dennis - 2010
This paper investigates the role of staggered wages and sticky prices in explaining stylized labor market facts. We build on a partial equilibrium search and matching model and expand the model to a general equilibrium model with sticky prices and/or staggered wages. We show that the core model...
Persistent link: https://www.econbiz.de/10003948565
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On the determinacy of new Keynesian models with staggered wage and price setting
Proaño Acosta, Christian; Franke, Reiner; Flaschel, Peter - 2008
this model type, where a generalized Taylor rule that employs a weighted combination of wage and price inflation is used as … a measure for the inflation gap. … Inflation-Gap verwendet wird. …
Persistent link: https://www.econbiz.de/10003747656
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Labor market institutions and the business cycle : unemployment rigidities vs. real wage rigidities
Abbritti, Mirko; Weber, Sebastian - 2010
This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with … deterministically varying coeficients and find that there is a profound difference in the responses of unemployment and inflation to …
Persistent link: https://www.econbiz.de/10003972885
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What can a New Keynesian labor matching model match?
Reicher, Christopher Phillip - 2009
1980s. Based on the timing of observed fluctuations in interest rates, inflation, and productivity, it appears that the …. -- Unemployment ; labor market search ; job flows ; labor share ; inflation ; productivity shocks ; monetary shocks …
Persistent link: https://www.econbiz.de/10003826579
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Household search and the aggregate labor market
Mankart, Jochen; Oikonomou, Rigas - 2015
We develop a theoretical model with labor market frictions, incomplete financial markets and with households which have two members. Households face unemployment risks but their members adjust their labor supplies to insure against unemployment. We use the model to explain the cyclical...
Persistent link: https://www.econbiz.de/10011312576
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Macroeconomic volatilities and the labor market : first results from the euro experiment
Merkl, Christian; Schmitz, Tom - 2010
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …
Persistent link: https://www.econbiz.de/10003961662
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the …
Persistent link: https://www.econbiz.de/10012269664
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Firm wages in a frictional labor market
Rudanko, Leena - 2018
This paper studies a labor market with directed search, where multi-worker firms follow a firm wage policy: They pay equally productive workers the same. The policy reduces wages, due to the influence of firms’ existing workers on their wage setting problem, increasing the profitability...
Persistent link: https://www.econbiz.de/10011971300
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The financial accelerator, wages, and optimal monetary policy
König, Tobias - 2020
shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10012197901
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Efficient mismatch
Arseneau, David M.; Epstein, Brendan - 2018
This paper presents a model in which mismatch employment arises in a constrained efficient equilibrium. In the decentralized economy, however, mismatch gives rise to a congestion externality whereby heterogeneous job seekers fail to internalize how their individual actions affect the labor...
Persistent link: https://www.econbiz.de/10011932219