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Implications of Labor Market Frictions for Risk Aversion and Risk Premia

Swanson, Eric T. - 2019

household's attitudes toward risk, as shown in Swanson (2012). In this paper, I analyze how frictional labor markets affect that … analysis. Household risk aversion (as measured by willingness to pay to avoid a wealth shock) is higher: 1) in countries with … in Europe are large enough to play a substantial contributing role to risk aversion in those countries. Nevertheless …

Persistent link: https://www.econbiz.de/10012871945

Implications of Labor Market Frictions for Risk Aversion and Risk Premia

Swanson, Eric T. - 2019

Persistent link: https://www.econbiz.de/10012479714

Implications of labor market frictions for risk aversion and risk premia

Swanson, Eric T. - In: American economic journal : a journal of the American … 12 (2020) 2, pp. 194-240

Persistent link: https://www.econbiz.de/10012216331

Inflation dynamics with labour market matching : assessing alternative specifications

Christoffel, Kai; Costain, James; De Walque, Gregory; … - 2009

This paper reviews recent approaches to modeling the labour market, and assesses their implications for inflation dynamics through both their effect on marginal cost and on price-setting behavior. In a search and matching environment, we consider the following modeling setups: right-to-manage...

Persistent link: https://www.econbiz.de/10011598650

Business Cycles and the Labour Market : Can Theory Fit the Facts?

Millard, Stephen; Scott, Andrew; Sensier, Marianne - 1999

examined. Models are assessed in terms of their ability to mimic actual cycle correlations and volatility, their success in … volatility of employment and unemployment, produce too high a correlation between wages and employment, and do not capture the …

Persistent link: https://www.econbiz.de/10014184294

Modeling Labor Markets in Macroeconomics : Search and Matching

Krause, Michael - 2014

We present and discuss the simple search and matching model of the labor market against the background of developments in modern macroeconomics. We derive a simple representation of the model in a general equilibrium context and how the model can be used to analyze various policy issues in...

Persistent link: https://www.econbiz.de/10013039977

Chapter 7. Search in Macroeconomic Models of the Labor Market

Rogerson, Richard; Shimer, Robert - In: Handbook of labor economics : volume 4, part A, (pp. 619-700). 2011

This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...

Persistent link: https://www.econbiz.de/10014025126

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

Revisiting the matching function

Kohlbrecher, Britta; Merkl, Christian; Nordmeier, Daniela - 2014

Many labor market models use both idiosyncratic productivity and a vacancy free entry condition. This paper shows that these two features combined generate an equilibrium comovement between matches on the one hand and unemployment and vacancies on the other hand, which is observationally...

Persistent link: https://www.econbiz.de/10010248216

Revisiting the matching function

Kohlbrecher, Britta; Merkl, Christian; Nordmeier, Daniela - 2014

Persistent link: https://www.econbiz.de/10010350860