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Revised May 2016. We analyze a labor market with search and matching frictions in which wage setting is controlled by a monopoly union. Frictions render existing matches a form of firm-specific capital that is subject to a hold-up problem in a unionized labor market. We study how this hold-up...
Persistent link: https://www.econbiz.de/10012969869
, unemployment, house prices, credit scores, debt, financial assets, expectations, foreclosures, and inequality on county … housing wealth, and fluctuations in unemployment are the most important determinants of consumption, significantly so in all …
Persistent link: https://www.econbiz.de/10012971255
increasing unemployment transfers is partially offset by a partner's lower unemployment and wages …
Persistent link: https://www.econbiz.de/10012977492
education in the labor force and when long-term unemployment is more pronounced. Policies which could facilitate labor market … policies, such as unemployment benefits, as well as labor taxation render matching significantly more difficult …
Persistent link: https://www.econbiz.de/10012977727
century of UK and USA unemployment data. For both the countries we see a period conforming to hysteresis starting in the early …
Persistent link: https://www.econbiz.de/10012979965
Improvement in human capital is essential for rapid, sustainable, and inclusive economic growth in Myanmar. Investments in health and education — including technical and vocational education and training — are essential to engineer a productive labor force that can contribute to and benefit...
Persistent link: https://www.econbiz.de/10013002392
This paper revisits the dynamics of unemployment rate for 29 OECD countries over the period of 1980-2013. Numerous … empirical studies of the dynamics of unemployment rate are carried out within a linear framework. However, unemployment rate can … time series exhibits nonlinear behaviour. Our empirical findings provide significant evidence in favour of unemployment …
Persistent link: https://www.econbiz.de/10013002448
studies and the use of specific Labour Market Institutions shocks. This allows us to disentangle what specific demand and … supply-variables affect unemployment in the long-run. Further we also investigate the impact of different supply and demand …-shock on long-term unemployment. Our findings suggest that there is hysteresis in both countries, and that it happens through …
Persistent link: https://www.econbiz.de/10013002619
We propose a new business cycle theory. Firms need to randomize over firing or keeping workers who have performed poorly in the past, in order to give them an ex-ante incentive to exert effort. Firms have an incentive to coordinate the outcome of their randomizations, as coordination allows them...
Persistent link: https://www.econbiz.de/10013012277
Technological unemployment is a situation when people are without work and seeking work because of innovative …
Persistent link: https://www.econbiz.de/10013012795