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Standard heterogeneous agent macro models that highlight idiosyncratic productivity shocks do not generate the near zero cross-sectional correlation between hours and wages found in the data. We ask whether matching this moment matters for business cycle properties of these models. To do this we...
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an adjustment cost function for employment and hours. We calibrate the model to match the Japanese labor market, in which … behavior of hours of work, but fails to generate employment volatility of realistic magnitude. Additional penalties for longer …
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For the last two decades, the increase of employment among cohorts of individuals aged 50+ has been a policy objective … on the European employment agenda. The present paper takes stock of the situation as observed in Belgium over the time … period 1997-2011. First, we provide analysis on the evolution of older workers' employment in Belgium and its neighboring …
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examine the relationship between the dynamics of work-limiting disability and employment, hours of work, earnings and life …
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