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Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

This paper provides a critique of the "unemployment invariance hypothesis," according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …

Persistent link: https://www.econbiz.de/10005822664

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the ?unemployment invariance hypothesis,? according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …

Persistent link: https://www.econbiz.de/10010265548

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …

Persistent link: https://www.econbiz.de/10010281026

Interactions between Employment and Training Policies

Oskamp, Frank; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2007

This paper examines the interactions between employment and training policies. Their effectiveness in stimulating income and employment may be interdependent for various important reasons. For example, the more employment policies stimulate the employment rate, the greater the length of time...

Persistent link: https://www.econbiz.de/10005755249

On the Interplay between Keynesian and Supply Side Economics

Karanassou, Marika; Snower, Dennis J. - Department of Economics and Finance Research and … - 2007

Conventional wisdom suggests that nominal, demand-side shocks have only temporary effects on real macroeconomic magnitudes and that the duration of their effects depends on the degree of nominal inertia. It is also argued that, in the absence of unit roots, temporary supply-side shocks also have...

Persistent link: https://www.econbiz.de/10005764156

The Effect of Low-Wage Subsidies on Skills and Employment

Oskamp, Frank; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2006

We explore the far-reaching implications of low-wage subsidies on skill formation, aggregate employment and welfare. Low-wage subsidies have three important effects. First, they promote employment of low-skilled workers (who tend to be the ones who earn low wages). Second, by raising the payoff...

Persistent link: https://www.econbiz.de/10005103185

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …

Persistent link: https://www.econbiz.de/10011412072

An Incentive Theory of Matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2010

This paper examines the labour market matching process by distinguishing its two component stages: the contact stage, in which job searchers make contact with employers and the selection stage, in which they decide whether to match. We construct a theoretical model explaining two-sided selection...

Persistent link: https://www.econbiz.de/10010955922

Incentives and complementarities of flexicurity

Brown, Alessio J. G.; Snower, Dennis J. - 2009

renowned Danish miracle by evaluating their unemployment and inequality effects and their complementarities. We develop a … full Danish flexicurity set of policies (low employment protection, high unemployment benefits and workfare). Our results … show that implementing the Danish flexicurity concept in Germany would reduce unemployment and earnings inequality …

Persistent link: https://www.econbiz.de/10010265238

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...

Persistent link: https://www.econbiz.de/10010277955