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How important is the intensive margin of labor adjustment?
Rens, Thijs van - Department of Economics and Business, Universitat … - 2011
Using new quarterly data for hours worked in OECD countries, Ohanian and Raffo (2011) argue that in many OECD countries, particularly in Europe, hours per worker are quantitatively important as an intensive margin of labor adjustment, possibly because labor market frictions are higher than in...
Persistent link: https://www.econbiz.de/10009321252
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Structural unemployment
Herz, Benedikt; Rens, Thijs van - Department of Economics and Business, Universitat … - 2011
Structural unemployment is due to mismatch between available jobs and workers. We formalize this concept in a simple … costs across segments generate structural unemployment. We estimate the contribution of these costs to fluctuations in US … unemployment, operationalizing segments as states or industries. Most structural unemployment is due to wage bargaining costs …
Persistent link: https://www.econbiz.de/10009228781
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Selective hiring and welfare analysis in labor market models
Merkl, Christian; Rens, Thijs van - Department of Economics and Business, Universitat … - 2011
predictions of the model change very little, but the welfare costs of unemployment are much larger because unemployment risk is … distributed unequally across workers. As a result, optimal unemployment insurance may be higher and welfare is lower if hiring is …
Persistent link: https://www.econbiz.de/10009293465
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Skill-biased technological change and the business cycle
Balleer, Almut; Rens, Thijs van - Department of Economics and Business, Universitat … - 2008
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10004969342
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The vanishing procyclicality of labor productivity
Galí, Jordi; Rens, Thijs van - Department of Economics and Business, Universitat … - 2008
We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...
Persistent link: https://www.econbiz.de/10008548743
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; Rens, Thijs van - Department of Economics and Business, Universitat … - 2007
Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment …
Persistent link: https://www.econbiz.de/10005772474
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Education, growth and income inequality
Teuling, Coen; Rens, Thijs van - Department of Economics and Business, Universitat … - 2001
Estimates of the e¤ect of education on GDP (the social return to education)have been hard to reconcile with micro evidence on the private return. We present a simple explanation that combines two ideas: imperfect substitution between worker types and endogenous skill biased technological...
Persistent link: https://www.econbiz.de/10005704916
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Organizational capital and employment fluctuations
Rens, Thijs van - Department of Economics and Business, Universitat … - 2004
In this paper I present a model in which production requires two types of labor inputs: regular productive tasks and organizational capital, which is accumulated by workers performing organizational tasks. By allocating more workers from organizational to productive tasks, firms can temporarily...
Persistent link: https://www.econbiz.de/10005707967