, wealth extracted from house price appreciation and explosive debt. This is in stark contrast with the productivity …

's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination …-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol … of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well. …

the market-clearing level must reduce employment. Empirical findings suggest, however, that this might not always be the … competitive labour market with friction. -- minimum wage and employment ; minimum wage paradox ; friction and search in the labour …

significant role in the sharp decline in U.S. employment between 2007 and 2009. Using geographical variation across U.S. counties …, we show that counties with a larger decline in housing net worth experience a larger decline in non-tradable employment …

:After a monetary or fiscal expansion there will always be a temporary increase in the production and employment, even if … be not only a temporary short-term increase in the production and employment, but furthermore a permanent long-term one … fixed long-term production reflecting a fixed full employment level underlies the conventional theory, unless a long …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … employment, and the effects are primarily felt by the relatively smaller businesses; the impact on large businesses are generally … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …

-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two … added and employment is robustly and significantly countercyclical. 2) The cross-sectional standard deviation of firm …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …

question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital …