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This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …
Persistent link: https://www.econbiz.de/10010278021
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future … shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the … rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving …
Persistent link: https://www.econbiz.de/10010329115
In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014533978
We use a novel approach to studying the heterogeneity in the job finding rates of the nonemployed by classifying the nonemployed by labor force status (LFS) histories, instead of using only one-month LFS. Job finding rates differ substantially across LFS histories: they are 25-30% among those...
Persistent link: https://www.econbiz.de/10010468188
, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … finding, and job filling within each country. This robust set of facts guides and disciplines the development of a theory of … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment …
Persistent link: https://www.econbiz.de/10012882367
density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …
Persistent link: https://www.econbiz.de/10011479334
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/10010285522
We use a novel approach to studying the heterogeneity in the job finding rates of the nonemployed by classifying the nonemployed by labor force status (LFS) histories, instead of using only one-month LFS. Job finding rates differ substantially across LFS histories: they are 25-30% among those...
Persistent link: https://www.econbiz.de/10011094076
underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching …. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …
Persistent link: https://www.econbiz.de/10005763504
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …
Persistent link: https://www.econbiz.de/10004961441