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This paper studies the dynamics of labor demand at the firm level. Recent studies emphasize the importance of non-convex components in the structure of hiring and firing costs in the form of either fixed or linear adjustment costs. Building from Cooper al. (2005) model and Rota (2004)...
Persistent link: https://www.econbiz.de/10005706192
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate … procyclical unemployment rates, and suffer from the usual defects of matching models. We embed endogenous participation in a … variabilities but also generates strongly countercyclical unemployment rates. Furthermore, the low labor supply elasticity implied …
Persistent link: https://www.econbiz.de/10005537405
unemployment is shown to be socially costly. The paper notes that a tax on revenue of the incumbent firms can be welfare improving …
Persistent link: https://www.econbiz.de/10005342907
averse agents, capital and a labor-leisure choice has the ability to match all moments of the ac- tual US-unemployment rate … be unable to generate the observed fuctuations in unemployment rates and give the reason for their failure …
Persistent link: https://www.econbiz.de/10005342913
Persistent link: https://www.econbiz.de/10005345480
Persistent link: https://www.econbiz.de/10005345706
response of wages to high unemployment can pose adjustment problems. We address the issue using extensive simulations of an …, unique equilibrium unemployment rate but with relatively slow convergence dynamics. The interaction between unemployment … deterministic and stochastic simulations. Resulting impulse-responses are analysed, as well as the distribution of unemployment …
Persistent link: https://www.econbiz.de/10005345744
rejection margin and, thus, the unemployment rate. Moreover, the effects are bigger for those countries with generous … unemployment benefits. This framework, thus, provides an explanation for the observation that European unemployment rates increased … during the last 2/3 decades and the US unemployment rate did not. We also analyze the role of turbulence. …
Persistent link: https://www.econbiz.de/10005706750
Countries in Transition, ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined …
Persistent link: https://www.econbiz.de/10011142081
Using a simple stochastic multi-sector model we show patterns of demand shares on sectors with different productivity coefficients have some expected and some unexpected effects on GDP, sector sizes, the magnitudes of the Okun's law coefficients, and Beveridge curves shifts. The basic stochastic...
Persistent link: https://www.econbiz.de/10005345086