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The cyclical behavior of equilibrium unemployment and vacancies revisited

Hagedorn, Marcus; Manovskii, Iourii - 2008

Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation and cyclicality of wages to identify...

Persistent link: https://www.econbiz.de/10011604899

Real Price and Wage Rigidities in a Model with Matching Frictions

Küster, Keith - 2021

This paper incorporates search and matching frictions in the labor market into a New Keynesian model. In contrast to … the literature, the labor market activity takes place in the (Calvo-staggered) price-setting sector. Matching frictions … which induce smooth inflation also dampen the adjustment of wages in response to shocks. In the search and matching …

Persistent link: https://www.econbiz.de/10013317251

Productivity and job flows: heterogeneity of new hires and continuing jobs in the business cycle

Kilponen, Juha; Vanhala, Juuso - 2009

This paper focuses on tenure driven productivity dynamics of a firm-worker match as a potential explanation of "unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their sensitivity to aggregate productivity shocks. As a result, new...

Persistent link: https://www.econbiz.de/10011605126

What’s Going on Behind the Euro Area Beveridge Curve(s)?

Bonthuis, Boele - 2013

This paper studies unemployment and vacancy developments in the euro area at the aggregate and country level over the Great Recession. The recent crisis has had a heterogeneous impact on euro area labour markets, leading to significant employment losses, especially in some sectors. The extent to...

Persistent link: https://www.econbiz.de/10013077231

Inflation dynamics with labour market matching: assessing alternative specifications

Christoffel, Kai; Costain, James; de Walque, Gregory; … - 2009

dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we …

Persistent link: https://www.econbiz.de/10011605099

Inflation Dynamics with Labour Market Matching : Assessing Alternative Specifications

Christoffel, Kai; Costain, James; De Walque, Gregory; … - 2010

dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we …

Persistent link: https://www.econbiz.de/10014208182

On-the-Job Search and the Cyclical Dynamics of the Labor Market

Krause, Michael; Lubik, Thomas A. - 2021

We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms,...

Persistent link: https://www.econbiz.de/10013318926

Real price and wage rigidities in a model with matching frictions

Kuester, Keith - 2007

Persistent link: https://www.econbiz.de/10011604766

The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited

Hagedorn, Marcus; Manovskii, Iourii - 2021

Persistent link: https://www.econbiz.de/10013316636

Labour Market Skills, Endogenous Productivity and Business Cycles

Abbritti, Mirko; Consolo, Agostino - 2022

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that are relevant for monetary policy. The model matches remarkably well the short and long run dynamics of skilled and unskilled workers. Skill mismatch and skill-specific labour...

Persistent link: https://www.econbiz.de/10013298601