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Wage Rigidities in an Estimated DSGE Model of the UK Labour Market
Faccini, Renato - 2011
We estimate a New Keynesian model with matching frictions and nominal wage rigidities on UK data. We are able to … study the transmission mechanism. With matching frictions, wage rigidities have limited effect on inflation dynamics …, despite improving the empirical performance of the model. The reason is that with matching frictions, marginal costs depend on …
Persistent link: https://www.econbiz.de/10013129895
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Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance
Nakajima, Makoto - 2019
incompleteness to the standard Mortensen-Pissarides model of search and matching and explore the model's cyclical properties. There …
Persistent link: https://www.econbiz.de/10012706178
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Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance
Nakajima, Makoto - 2010
market incompleteness to the standard Mortensen-Pissarides model of search and matching and explore the model's cyclical …
Persistent link: https://www.econbiz.de/10013139259
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How cyclical is the user cost of labor?
Kudlyak, Marianna - 2024
In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014507553
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Specific Capital and Vintage Effects on the Dynamics of Unemployment and Vacancies
Eyigungor, Burcu - 2019
In a reasonably calibrated Mortensen and Pissarides matching model, shocks to average labor productivity can account …
Persistent link: https://www.econbiz.de/10012706057
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The high sensitivity of employment to agency costs : the relevance of wage rigidity
Hristov, Atanas - 2010
cycles. Economic Theory, 12(3):583-597]. The aim of this article is to show that financing constraints can substantially …
Persistent link: https://www.econbiz.de/10008663379
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History dependence in wages and cyclical selection : evidence from Germany
Bauer, Anja; Lochner, Benjamin - 2016
/DiNardo, 1991) or a matching model with on-the-job search and cyclical selection (Hagedorn/Manovskii, 2013). The data suggests that … (2013) für den deutschen Arbeitsmarkt befürwortet wird. Die Daten zeigen einerseits einen Zusammenhang zwischen der …
Persistent link: https://www.econbiz.de/10011544266
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History dependence in wages and cyclical selection : evidence from Germany
Bauer, Anja; Lochner, Benjamin - 2019
Using administrative employer-employee data from Germany, we investigate the relationship between wages and past and present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we find strong evidence for history dependent wages,...
Persistent link: https://www.econbiz.de/10012027613
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History dependence in wages and cyclical selection : evidence from Germany
Bauer, Anja; Lochner, Benjamin - 2017 - Draft: October 2017
understanding unemployment fluctuations in matching models. …
Persistent link: https://www.econbiz.de/10011756338
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10010270767