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This paper studies the long-term consequences on firms and workers of the credit crunch triggered by the 2007-2008 global financial crisis. Relying on a unique matched bank-employer-employee administrative dataset, we construct a firm-specific credit supply shock and examine firms’ and...
Persistent link: https://www.econbiz.de/10014440036
unemployment, most research has focused on analyzing the effect of unemployment insurance (UI) policies on reemployment outcomes … benefit duration (PBD) within the German UI system, we find that longer PBD leads to longer actual unemployment duration for … for those individuals becoming re-employed. With increasing unemployment benefit duration, the founders’ outcomes in terms …
Persistent link: https://www.econbiz.de/10012241969
reducing the generosity of unemployment benefits decreases wages, fosters employment and augments competitiveness as well as …
Persistent link: https://www.econbiz.de/10011995060
We introduce two types of effort into an otherwise standard labor search model to examine indeterminacy and sunspot equilibria. Variable labor effort gives rise to increasing returns to hours in production. This makes workers more valuable and contributes to self-fulfilling profit expectations,...
Persistent link: https://www.econbiz.de/10012062385
large, long-term photovoltaic invest scheme in Germany. Comparing counties with high and low unemployment both over time and …
Persistent link: https://www.econbiz.de/10012033285
Following the predominance of macroeconomic stabilisation policies and passive income support schemes in the first phase of transition, active labour market policies (ALMPs) have now come to play a more important role in transition economies. This paper looks at the Polish experience and...
Persistent link: https://www.econbiz.de/10011622125
I calculate unemployment multipliers of fiscal consolidation policies in a standard, closed-economy New Keynesian … percentage of family firms in the labor force. I find that fiscal austerity raises unemployment. Both at peak and cumulatively …, unemployment reacts least when the budget is consolidated by increasing the rate of value-added tax. At peak, the highest increase …
Persistent link: https://www.econbiz.de/10010516542
This paper derives alternative measures of the short-run NAIRU (SRN) for the UK, the rate for unemployment at which … a beneficial impact on RPIX inflation over the last few years. We show that deviations of unemployment from the short …
Persistent link: https://www.econbiz.de/10011517881
After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian … models the fall in aggregate unemployment does not affect employed workers at all. However, Lüchinger, Meier and Stutzer … (2010) found that the risk of unemployment negatively affects utility of employed workers: An increases in aggregate …
Persistent link: https://www.econbiz.de/10009405109
As skills of labor-market entrants are usually not directly observed by employers, individuals acquire skill signals. To study which signals are valued by employers, we simultaneously and independently randomize a broad range of skill signals on pairs of resumes of fictitious applicants among...
Persistent link: https://www.econbiz.de/10011895832