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The inflation-output tradeoff : which type of labor market rigidity is to be blamed?

Merkl, Christian - 2009

inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the … standard model is enhanced by real wage rigidities or labor turnover costs, an endogenous short-run inflation-output tradeoff … rigidities. Second, labor turnover costs are the dominant source for the inflation-output tradeoff when both rigidities are …

Persistent link: https://www.econbiz.de/10003826554

Endogenous labor market participation and the business cycle

Häfke, Christian (contributor); Reiter, Michael (contributor) - 2006

Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP. We embed endogenous participation in a simple, tractable job market matching model, show...

Persistent link: https://www.econbiz.de/10003297703

Endogenous Labor Market Participation and the Business Cycle

Haefke, Christian - 2006

Persistent link: https://www.econbiz.de/10012780475

Wage and employment cyclicalities at the establishment level

Merkl, Christian; Stüber, Heiko - 2021

We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical wages. We estimate a negative connection between...

Persistent link: https://www.econbiz.de/10012626934

Wage and employment cyclicalities at the establishment level

Merkl, Christian; Stüber, Heiko - 2021

Persistent link: https://www.econbiz.de/10012619265

Business cycle asymmetries and the labor market

Kohlbrecher, Britta; Merkl, Christian - 2022

This paper shows that a search and matching model with idiosyncratic training cost shocks can explain the asymmetric movement of the job-finding rate over the business cycle and the decline of matching efficiency in recessions. Large negative aggregate shocks move the hiring cutoff into a part...

Persistent link: https://www.econbiz.de/10013185150

Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence

Merkl, Christian; Stüber, Heiko - 2017

Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with...

Persistent link: https://www.econbiz.de/10011735900

Wage Cyclicalities and Labor Market Dynamics at the Establishment Level : Theory and Evidence

Merkl, Christian - 2017

Persistent link: https://www.econbiz.de/10012946571

Wage and employment cyclicalities at the establishment level

Merkl, Christian; Stüber, Heiko - 2023

Although the quantitative relationship between employment cyclicality and wage cyclicality is central for the dynamics of macroeconomic models, there is little empirical evidence on this topic. We use the German AWFP dataset to document that wage cyclicalities are very heterogeneous across...

Persistent link: https://www.econbiz.de/10014432211

Investment-Specific Shocks and Cyclical Fluctuations in a Frictional Labor Market

Toledo, Manuel - 2012

This paper studies the role of investment-specific shocks as an amplification mechanism of labor market fluctuations. We first show evidence suggesting that after a fall in the relative price of new equipment, not only do investment and output increase but firms also post more vacancies, hours...

Persistent link: https://www.econbiz.de/10013109615