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rate and the unemployment rate? In the odel, these fluctuations are driven by movements in productivity. This paper … model is able to replicate the conditional volatilities of job finding and unemployment. However, it fails to replicate the … correlation of productivity with unemployment and job finding that is conditional on both technology and nontechnology shocks. …
Persistent link: https://www.econbiz.de/10011756844
We identify the main shock driving fluctuations in long‐horizon productivity expectations, consistent with theories of TFP news. The identified shock induces strong comovement patterns in output, consumption, investment, employment, and stock prices even though TFP does not change...
Persistent link: https://www.econbiz.de/10014362540
Precautionary pricing and increasing markups in representative-agent DSGE models with nominal rigidities are commonly used to generate negative output effects of uncertainty shocks. We assess whether this theoretical model channel is consistent with the data. Three things stand out. First,...
Persistent link: https://www.econbiz.de/10012598448
, the Argentine economy transitioned from a low‐ to a high‐inflation regime, while collective bargaining and the minimum … low to high inflation, the monthly frequency of regular‐wage changes almost doubled, while the distribution of regular …
Persistent link: https://www.econbiz.de/10014306240
Persistent link: https://www.econbiz.de/10009706533
I use administrative and survey data from Chile and a structural model to evaluate teacher policies in a market-based school system. The model accommodates equilibrium effects on parental sorting across school sectors (public or private), on the self-selection of individuals into teaching and...
Persistent link: https://www.econbiz.de/10012432837
This paper studies the role of worker learning in a labor market where workers have incomplete information about the quality of their employment match. The amount of information about the quality of a new match depends on a worker’s past job experience. Allowing workers to learn from...
Persistent link: https://www.econbiz.de/10011798979
This paper studies the evolution of individual earnings inequality and dynamics in Canada from 1983 to 2016 using tax files and administrative records. Linking individual tax filers to their employers (and rich administrative records on firms) beginning in 2001, it also documents the...
Persistent link: https://www.econbiz.de/10014306267
We characterize the salient features of the distribution of (log) earnings of formal workers in Mexico using social security records for the period 2005-2019. The analysis is based on a nonparametric approach and is focused primarily on the properties of the distribution of earnings changes. We...
Persistent link: https://www.econbiz.de/10014306309
Using administrative data, we provide an extensive characterization of labor earnings dynamics in Norway. Some of our findings are as follows: (i) Norway has not been immune to the increase in top earnings inequality seen in other countries, (ii) the earnings distribution compresses in the...
Persistent link: https://www.econbiz.de/10014306319