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Macroeconomic Policy Lessons of Labor Market Frictions

Yashiv, Eran - Institute for the Study of Labor (IZA) - 2002

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

Persistent link: https://www.econbiz.de/10005703575

The Vanishing Procyclicality of Labor Productivity

Galí, Jordi; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2010

We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...

Persistent link: https://www.econbiz.de/10008548717

Flight of the H-1B: Inter-Firm Mobility and Return Migration Patterns for Skilled Guest Workers

Depew, Briggs; Norlander, Peter; Sorensen, Todd A. - Institute for the Study of Labor (IZA) - 2013

Critics of the H-1B program for high-skilled workers argue that the program restricts immigrant job mobility and lacks a vehicle for adjusting the number of visas during a recession. We study the job mobility of highly-skilled Indian IT guest workers and provide new evidence on their inter-firm...

Persistent link: https://www.econbiz.de/10010959611

Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy

Cosar, A. Kerem; Guner, Nezih; Tybout, James - Institute for the Study of Labor (IZA) - 2013

This paper explores the combined effects of reductions in trade frictions, tariffs, and firing costs on firm dynamics, job turnover, and wage distributions. It uses establishment-level data from Colombia to estimate an open economy dynamic model that links trade to job flows in a new way. The...

Persistent link: https://www.econbiz.de/10011168625

Labor Turnover Costs, Workers' Heterogeneity, and Optimal Monetary Policy

Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - Institute for the Study of Labor (IZA) - 2009

We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...

Persistent link: https://www.econbiz.de/10004976906

Structural Estimation of Search Intensity: Do Non-Employed Workers Search Enough?

Wolthoff, Ronald; Gautier, Pieter A.; Moraga-González, … - Institute for the Study of Labor (IZA) - 2007

simultaneously determined in market equilibrium. We structurally estimate the search cost distribution, the implied matching …We present a structural framework for the evaluation of public policies intended to increase job search intensity. Most … of the literature defines search intensity as a scalar that influences the arrival rate of job offers; here we treat it …

Persistent link: https://www.econbiz.de/10005763742

Labor and the Market Value of the Firm

Merz, Monika; Yashiv, Eran - Institute for the Study of Labor (IZA) - 2003

What role does labor play in firms’ market value? We explore this question using a production-based asset pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital and that the two interact, with the interaction...

Persistent link: https://www.econbiz.de/10005233766

Asymmetric Labor Market Institutions in the EMU and the Volatility of Inflation and Unemployment Differentials

Abbritti, Mirko; Mueller, Andreas I. - Institute for the Study of Labor (IZA) - 2012

How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...

Persistent link: https://www.econbiz.de/10011279349

Immigration, Search, and Redistribution: A Quantitative Assessment of Native Welfare

Battisti, Michele; Felbermayr, Gabriel; Peri, Giovanni; … - Institute for the Study of Labor (IZA) - 2014

We study the effects of immigration on native welfare in a general equilibrium model featuring two skill types, search … studied, immigration attenuates the effects of search frictions. These gains tend to outweigh the welfare costs of … in two thirds of countries, contrary to what models without search frictions predict. Average total gains from …

Persistent link: https://www.econbiz.de/10010959659

Elasticity of Supply to the Firm and the Business Cycle

Depew, Briggs; Sorensen, Todd - Institute for the Study of Labor (IZA) - 2011

Burdett-Mortensen search model. This differential wage setting power over the business cycle provides an alternative …

Persistent link: https://www.econbiz.de/10009283592