Similar Search Results

Aggregate and Idiosyncratic Risk in a Frictional Labor Market

Rudanko, Leena - Department of Economics, Boston University - 2008

Economists face difficulties explaining the strong cyclicality of US unemployment. This paper contributes both by developing modeling tools and evaluating a potentially important explanation. The paper develops a parsimonious equilibrium model of job search with aggregate productivity shocks,...

Persistent link: https://www.econbiz.de/10004991578

Labour at Risk

Botelho, Vasco; Foroni, Claudia; Renzetti, Andrea - 2023

We propose a Bayesian VAR model with stochastic volatility and time varying skewness to estimate the degree of labour … at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment … rate as a function of real activity and financial risk factors. We find that the conditional distribution of the changes in …

Persistent link: https://www.econbiz.de/10014352662

Uncertainty and labor market fluctuations

Jo, Soojin; Lee, Justin J. - 2019

We investigate how a macroeconomic uncertainty shock affects the labor market. We focus on the uncertainty transmission mechanism, for which we employ a set of worker flow indicators in addition to labor stock variables. We incorporate common factors from such indicators into a framework that...

Persistent link: https://www.econbiz.de/10012030061

Wage-Price Dynamics and Structural Reforms in Japan

Porcellacchia, Davide - 2016

Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the role that key characteristics of Japan's labor and product markets-labor-market duality and weak corporate governance-play in generating unfavorable wage-price dynamics. The...

Persistent link: https://www.econbiz.de/10012996094

Business cycles, unemployment insurance, and the calibration of matching models

Costain, James; Reiter, Michael - 2003

This paper points out an empirical failing of real business cycle models in which unemployment is endogenized through a matching function. One can easily choose a calibration to make the cyclical fluctuation in unemployment as large in the model as it is in the data, or to make the response of...

Persistent link: https://www.econbiz.de/10001784219

The high sensitivity of employment to agency costs : the relevance of wage rigidity

Hristov, Atanas - 2010

bargaining solution financing constraints increase substantially the volatility of wages, and in turn, amplification for the …

Persistent link: https://www.econbiz.de/10008663379

Business cycles, unemployment insurance, and the calibration of matching models

Costain, James; Reiter, Michael - 2003

Persistent link: https://www.econbiz.de/10011509369

Heterogeneity in staggered wage bargaining and unemployment volatility puzzle

Kara, Engin; Park, Yongmin - 2017

It has been noted that the search and matching model cannot account for the observed unemployment fluctuations. Gertler and Trigari (2009) show this weakness of the model disappears when wage stickiness is introduced to the model. Pissarides (2009) disagrees with this modification, arguing that...

Persistent link: https://www.econbiz.de/10011669046

Separation Costs, Job Heterogeneity and Labor Market Volatility in the Matching Model

Silva, José Ignacio - 2009

workers. We show that when this gap is omitted from the model, these costs do not improve the labor market volatility without …

Persistent link: https://www.econbiz.de/10012764001

Monetary Policy and Inequality Under Labor Market Frictions and Capital-Skill Complementarity

Dolado, Juan J. - 2018

In order to improve our understanding of the channels through which monetary policy has distributional consequences, we build a New Keynesian model with incomplete asset markets, asymmetric search and matching (SAM) frictions across skilled and unskilled workers and, foremost, capital-skill...

Persistent link: https://www.econbiz.de/10012919514