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A popular view about social security, dating back to its early days of inception, is that it is a means for young, unemployed workers to 'purchase' jobs from older, employed workers. The question we ask is: Can social security, by encouraging retirement and hence creating job vacancies for the...
Persistent link: https://www.econbiz.de/10013222232
A popular view about social security, dating back to its early days of inception, is that it is a means for young, unemployed workers to 'purchase' jobs from older, employed workers. The question we ask is: Can social security, by encouraging retirement and hence creating job vacancies for the...
Persistent link: https://www.econbiz.de/10012470125
Persistent link: https://www.econbiz.de/10010630348
Persistent link: https://www.econbiz.de/10008468808
We examine the relationship between housing equity and wage earnings. We first provide a simple model of wage bargaining where failure leads to both job loss and mortgage default. Moreover, foreclosure generates disutility beyond selling a home. We test this prediction using nine waves of the...
Persistent link: https://www.econbiz.de/10010292235
This paper develops a general equilibrium monetary model with performance incentives to study the inflation-unemployment relationship. A long-run downward-sloping Phillips curve can exist with perfectly anticipated inflation because workers’ incentive to exert effort depend on financial market...
Persistent link: https://www.econbiz.de/10005515020
Persistent link: https://www.econbiz.de/10010843480
We examine the relationship between housing equity and wage earnings. We first provide a simple model of wage bargaining where failure leads to both job loss and mortgage default. Moreover, foreclosure generates disutility beyond selling a home. We test this prediction using nine waves of the...
Persistent link: https://www.econbiz.de/10010599265
Persistent link: https://www.econbiz.de/10001704633