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This paper reevaluates the quantitative performance of the standard labor-market matching model developed by Mortensen and Pissarides with special attention to the behavior of vacancies, one of the key variables in the model. I first estimate trivariate vector autoregressions with gross worker...
Persistent link: https://www.econbiz.de/10014068861
-separable preferences and unemployment can solve this problem …
Persistent link: https://www.econbiz.de/10014069286
calibrated. The model is used to look at possible explanations for the recent sharp decline in the UK working-age unemployment … different shocks considered, the most plausible combination consists of a significant reduction in unemployment benefits …
Persistent link: https://www.econbiz.de/10014069430
unemployment rates. These findings have been interpreted as support for the hysteresis hypothesis. In this paper, we analyze a … panel of unemployment rates of fifteen OECD countries by using a panel-based test. The test exploits the cross … and time periods. It is found that the null hypothesis of a unit root in unemployment rates can be rejected in general …
Persistent link: https://www.econbiz.de/10014069463
This paper discusses the long run effect of changes in the age distribution of Spanish population on the unemployment … workers. One cannot argue, however, a joint evolution of population variables and the unemployment rates associated with … female workers and to the oldest male workers. Fourth, the short run dynamics of unemployment rates for the youngest (male …
Persistent link: https://www.econbiz.de/10014069941
Unemployment in France rose steadily from the early-seventies to the mid-eighties. Since the mid-eighties it has … continued to experience fluctuations around a very high average level. Equilibrium unemployment theories are a useful framework …, which includes a larger number of potential unemployment determinants than earlier work, allows an enriched reading of the …
Persistent link: https://www.econbiz.de/10014070580
This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with … endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment …?s, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the …
Persistent link: https://www.econbiz.de/10014070878
In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the … relations. In this paper, we examine the role this quality of labor relations has played in the evolution of unemployment across … relations have experienced higher unemployment. This conclusion remains even after controlling for labor institutions …
Persistent link: https://www.econbiz.de/10014070998
shift hypothesis are the most important in explaining Dutch unemployment behavior during the postwar period. This means that … cyclical unemployment in the Netherlands can be viewed as a fluctuation of the natural rate of unemployment …
Persistent link: https://www.econbiz.de/10014071292
The permanent income hypothesis and life-cycle models allowing for precautionary saving suggest that households may be able to smooth their consumption by saving during normal periods or when facing high income uncertainties and dissaving when adverse economic shocks occur. These hypotheses are...
Persistent link: https://www.econbiz.de/10014072378