Showing 1 - 10 of 73
We construct and calibrate a general equilibrium business cycle model with unemployment and precautionary saving. We …' income riskier, both by increasing the unconditional probability of unusually long unemployment spells, and by making wages … fiscal policy offsets the cycle, holding unemployment benefits constant but varying the tax rate procyclically to smooth …
Persistent link: https://www.econbiz.de/10005707978
In this paper we study the structure of labor market flows in Spain and compare them with France and the US. We characterize a number of empirical regularities and stylized facts. One striking result is that the job finding rate is slightly higher than in France, while the jon loss rate is much...
Persistent link: https://www.econbiz.de/10005772057
characterized by matching frictions and costly screening. When effort in improving ability raises both the mean and the variance of … distribution of firm characteristics, sorting patterns between firms and workers, and unemployment rates that can help explaining …
Persistent link: https://www.econbiz.de/10011250933
This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of … robust explanation for the European unemployment puzzle in the context of a matching model with both endogenous job creation … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the …
Persistent link: https://www.econbiz.de/10005772074
The paper shows that a matching model where technological change is partially embodied in the job match is successful … in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model …
Persistent link: https://www.econbiz.de/10005772185
A generalized rise in unemployment rates for both college and high-school graduates, a widening education wage premium … in educational attainment. First, it develops an equilibrium search and matching model of the labor market where … considerable part of the changes but fails to produce the increase in unemployment for the educated labor force. The mismatch shock …
Persistent link: https://www.econbiz.de/10005772255
unemployment. But many orthodox reforms of the labor market have proved difficult to implement because of political opposition. For …
Persistent link: https://www.econbiz.de/10005772279
summarized as the very existence of unemployment generating political support for "sclerosis". This may help to explain the timid …
Persistent link: https://www.econbiz.de/10005772308
consumption by running down their assets, while the employed save to buffer against future unemployment spells. I also show that …, unlike in models with exogenous income streams, unemployment transfers, by allowing agents to attain higher wages do not …
Persistent link: https://www.econbiz.de/10005772343
fill jobs. Moreover, unemployment rates are higher in industries which use employee referrals more extensively. This paper … develops an equilibrium matching model which can explain these empirical regularities. In this model, the matching process … search is, however, not necessarily efficient. Congestion externalities in referral search imply that unemployment would be …
Persistent link: https://www.econbiz.de/10005772463