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unemployment, very low volatility of labour market tightness, and for a positively sloped Beveridge curve. These implications are …
Persistent link: https://www.econbiz.de/10005667092
and by the need to reallocate workers across productive activities. The duration of unemployment and jobs and wage … policies on wages and unemployment. …
Persistent link: https://www.econbiz.de/10005497772
A new methodology is described which tests between various equilibrium theories of unemployment using matching data … identify a matching process using data which is recorded monthly, and also shows how to identify different unemployment … those vacancies come onto the market. In particular, these workers’ experience average durations of unemployment which …
Persistent link: https://www.econbiz.de/10005123575
Many workers believe that personal contacts are crucial for obtaining jobs in high-wage sectors. On the other hand, firms in high-wage sectors report using employee referrals because they help provide screening and monitoring of new employees. This Paper develops a matching model that can...
Persistent link: https://www.econbiz.de/10005124260
In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …
Persistent link: https://www.econbiz.de/10005124276
The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions … of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy … - on the ability of these theories to predict some salient stylized facts about unemployment behaviour. The paper considers …
Persistent link: https://www.econbiz.de/10005136538
We present a static model of aggregate demand and unemployment. The economy has a nonproduced good, a produced good … prices as parameters. We obtain the following results: (1) unemployment and unsold production prevail in equilibrium; (2 … and reduce unemployment. …
Persistent link: https://www.econbiz.de/10011083246
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/10005000439
staggered nominal wage bargaining. We find that the estimated natural rate of unemployment is consistent with the NBER … description of the U.S. business cycle, and that the inflation/unemployment trade-off facing monetary policymakers is … unemployment gaps are more efficient than rules responding to output or unemployment growth rates, also in the presence of …
Persistent link: https://www.econbiz.de/10005792050
This paper develops a theory characterizing the effects of fiscal policy on unemployment over the business cycle. The … theory is based on a model of equilibrium unemployment in which jobs are rationed in recessions. Fiscal policy in the form of … government spending on public-sector jobs reduces unemployment, especially during recessions: the fiscal multiplier …
Persistent link: https://www.econbiz.de/10009324257