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The Solow condition is examined in an intertemporal model that blends the shirking and the turnover models of efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs are considered. The Solow condition can be a possible...
Persistent link: https://www.econbiz.de/10011529959
This paper provides some of the first empirical evidence on the psychological impact of past unemployment. Using eleven … lower the greater has been the past experience of unemployment. In this sense, unemployment scars. However, an interaction … term between current and past unemployment attracts a positive coefficient. This suggests a habituation effect whereby the …
Persistent link: https://www.econbiz.de/10011532000
This paper applies the panel unit root test proposed by Im, Pesaran and Shin (1997) to test for unemployment hysteresis …
Persistent link: https://www.econbiz.de/10011532208
This paper assesses the impact of the crisis on the NEET rate and on the youth unemployment rate (YUR) of the EU …
Persistent link: https://www.econbiz.de/10011535393
The basic trade union model is extended to allow for a more sophisticated unemployment benefit system consisting of two … utility of union members can reduce unemployment. …
Persistent link: https://www.econbiz.de/10011536221
severe and prolonged macroeconomic shock affects wage rigidity and unemployment. Our second survey was conducted in 1998 …, when the unemployment rate was much higher, and the inflation rate much lower, than when we conducted the first survey in … 1991. We find no evidence that the increase in unemployment has softened the mechanisms generating wage rigidity. On the …
Persistent link: https://www.econbiz.de/10011536255
A highly segmented labor market usually favors a mismatch between supply and demand, significantly limiting the functional flexibility and the resilience of this market to macroeconomic shocks. From this perspective, such a market hampers the transition of an EU member to the euro zone,...
Persistent link: https://www.econbiz.de/10011536879
Regional disparities in unemployment rates are large and persistent, particularly in some economies such as Spain … some economic, demographic and environmental factors in explaining the gap between low and high unemployment regions. Most … regional differentials in unemployment rates by using the information from the Spanish wave of the Labour Force Survey. An …
Persistent link: https://www.econbiz.de/10011536889
Conventional models of equilibrium unemployment typically imply that pro-portional taxes on labor earnings are neutral … with respect to unemployment as long as the tax does not affect the replacement rate provided by unem-ployment insurance, i ….e., unemployment benefits relative to after-tax earnings. When home production is an option, the conventional results may no longer …
Persistent link: https://www.econbiz.de/10011537094
A distinctive feature of unemployment is that its incidence is far from being homogeneously distributed in the … territory. Disparities in unemployment rates are not only observed between countries but also between regions within countries …. The available evidence indicates that since the early 80s Spain is a country of high unemployment rates, and persistently …
Persistent link: https://www.econbiz.de/10011537775