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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …
Persistent link: https://www.econbiz.de/10012269664
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Labor turnover costs, workers' heterogeneity and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10010277956
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Labor turnover costs, workers' heterogeneity, and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10010277961
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Labor selection, turnover costs and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2012 - This version September 2012
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms’ counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10011415418
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Labor turnover costs, workers' heterogeneity and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10003864487
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Labor turnover costs, workers' heterogeneity, and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10003879356
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Unemployment in an interdependent world
Felbermayr, Gabriel; Larch, Mario; Lechthaler, Wolfgang - 2012
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our … single-sector perspective pays special attention to the role of income effects and shows that bad institutions in one country …
Persistent link: https://www.econbiz.de/10011452156
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021
labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …
Persistent link: https://www.econbiz.de/10012416294
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Unemployment in an interdependent world
Felbermayr, Gabriel; Larch, Mario; Lechthaler, Wolfgang - 2009
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our … single-sector perspective pays special attention to the role of income effects and shows that bad institutions in one country …
Persistent link: https://www.econbiz.de/10010265248
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Unemployment in an interdependent world
Felbermayr, Gabriel J.; Larch, Mario; Lechthaler, Wolfgang - 2009
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our … single-sector perspective pays special attention to the role of income effects and shows that bad institutions in one country …
Persistent link: https://www.econbiz.de/10010266008