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Acemoglu, Daron; Hawkins, William B. - In: Theoretical economics : TE ; an open access journal in … 9 (2014) 3, pp. 583-628

We present a generalization of the standard random-search model of unemployment in which firms hire multiple workers and in which the hiring process is time-consuming as well as costly. We follow Stole and Zwiebel (1996a,b) and assume that wages are determined by continuous bargaining between...

Persistent link: https://www.econbiz.de/10011674212

The effects of productivity and benefits on unemployment : breaking the link

Brown, Alessio J. G.; Kohlbrecher, Britta; Merkl, Christian - 2017

In the standard macroeconomic search and matching model of the labor market, there is a tight link between the quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This tight link is at odds with the empirical literature. We...

Persistent link: https://www.econbiz.de/10012111816

The geography of job creation and job destruction

Kuhn, Moritz; Manovskii, Iourii; Qiu, Xincheng - 2021

finding, and job filling within each country. This robust set of facts guides and disciplines the development of a theory of …

Persistent link: https://www.econbiz.de/10012663064

Labor market dynamics with sorting

Schulz, Bastian - 2023

I study a dynamic search-matching model with two-sided heterogeneity, a production complementarity that induces labor market sorting, and aggregate shocks. In response to a positive productivity shock, incentives to sort increase disproportionately. Firms respond by posting additional vacancies,...

Persistent link: https://www.econbiz.de/10014366741

Fiscal Multipliers in a Two-Sector Search and Matching Model

Angelopoulos, Konstantinos - 2015

This paper evaluates the effects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour markets with skilled and...

Persistent link: https://www.econbiz.de/10013028533

Endogenous Growth, Downward Wage Rigidities and Optimal Inflation

Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2022

Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses …-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … the welfare-maximizing inflation level. For a plausible set of parameters, the optimal inflation target is in excess of …

Persistent link: https://www.econbiz.de/10013306762

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2006

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

Persistent link: https://www.econbiz.de/10003304975

Labour market dynamics in Germany : hirings, separations, and job-to-job transitions over the business cycle

Bachmann, Ronald (contributor) - 2005

In this paper, we provide a comprehensive overview of labour market dynamics in Western Ger- many by looking at gross worker flows. To do so, we use a subsample of the registry data collected by the German social security system, the IAB employment sample, for the time period 1975-2001. The...

Persistent link: https://www.econbiz.de/10003323028

Labor Market Sorting over the Business Cycle

Park, Hyejin - 2022

study whether workers selectively separate from their job matches in a recession. Using data from the Current Population Survey, I show that workers with short tenure and high wages are more likely to lose their jobs and become unemployed in recession periods. Moreover, the weekly history of...

Persistent link: https://www.econbiz.de/10013298838

Wage setting in times of high and low inflation

Gödl, Maximilian; Gödl-Hanisch, Isabel - 2024

The recent surge in inflation led many unions and firms to alter their bargaining and wage-setting policies. Using … during periods of high and low inflation. We find state dependence along the extensive and intensive margins: the average … implications of state-dependent wage setting for the long-run effects of trend inflation, the transmission of monetary policy …

Persistent link: https://www.econbiz.de/10015057673