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Gomes, Joao F; Greenwood, Jeremy; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 1997

A search-theoretic general equilibrium model of frictional unemployment is shown to be consistent with some of the key … regularities of unemployment over the business cycle. In the model the return to a job moves stochastically. Agents can choose … unemployment. …

Persistent link: https://www.econbiz.de/10005666661

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2003

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Persistent link: https://www.econbiz.de/10005667015

Payroll Taxes, Social Insurance and Business Cycles

Burda, Michael C; Weder, Mark - C.E.P.R. Discussion Papers - 2010

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

Persistent link: https://www.econbiz.de/10008611008

The Brevity and Violence of Contractions and Expansions

McKay, Alisdair; Reis, Ricardo - C.E.P.R. Discussion Papers - 2006

Early studies of business cycles argued that contractions in economic activity were briefer (shorter) and more violent (rapid) than expansions. This paper systematically investigates this claim and in the process discovers a robust new business cycle fact: expansions and contractions in output...

Persistent link: https://www.econbiz.de/10005114328

Worker Replacement

Menzio, Guido; Moen, Espen R - C.E.P.R. Discussion Papers - 2008

of unemployment and vacancies to negative shocks to the aggregate productivity of labor. …

Persistent link: https://www.econbiz.de/10005114426

The Effect of Location on Finding a Job in the Paris Region

Gobillon, Laurent; Magnac, Thierry; Selod, Harris - C.E.P.R. Discussion Papers - 2007

There are large spatial disparities in unemployment durations across the 1,300 municipalities in the Paris region (Ile … exhaustive dataset of all unemployment spells starting in the first semester of 1996. This model allows us to recover a survival …

Persistent link: https://www.econbiz.de/10005666452

Fixed-Term Contracts and the Duration Distribution of Unemployment

Güell, Maia - C.E.P.R. Discussion Papers - 2002

more dynamic. This Paper studies the implications of such reforms for the duration distribution of unemployment, with … drawn from the Spanish Labour Force Survey from 1980-94 to analyse the chances of leaving unemployment before and after the … of the model also shows that for long spells, the probability of leaving unemployment has decreased since such reform. …

Persistent link: https://www.econbiz.de/10005123695

Firm Default and Aggregate Fluctuations

Jacobson, Tor; Kindell, Rikard; Lindé, Jesper; … - C.E.P.R. Discussion Papers - 2008

This paper studies the relation between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. Using a multiperiod logit approach on a panel data set for all incorporated Swedish businesses over 1990-2002, we...

Persistent link: https://www.econbiz.de/10005504257

Learning by Doing as a Propagation Mechanism

Chang, Yongsung; Gomes, Joao F; Schorfheide, Frank - C.E.P.R. Discussion Papers - 2002

This Paper suggests that skill accumulation through past work experience, or ‘learning-by-doing’ (LBD), can provide an important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labour supply affects future productivity. Our econometric analysis uses a...

Persistent link: https://www.econbiz.de/10005504303

Stock Returns, Term Structure, Inflation and Real Activity: An International Perspective

Canova, Fabio; de Nicolò, Gianni - C.E.P.R. Discussion Papers - 1997

This paper analyses the empirical interdependence of asset returns, real activity and inflation from a multicountry and international point of view. We find that nominal stock returns are significantly related to inflation only in the United States, that the US term structure of interest rates...

Persistent link: https://www.econbiz.de/10005504379