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Worker identity, employment fluctuations and stabilization policy
Snower, Dennis J.; Lechthaler, Wolfgang - 2013
This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...
Persistent link: https://www.econbiz.de/10009752694
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Worker Identity, Employment Fluctuations and Stabilization Policy
Snower, Dennis J. - 2013
This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...
Persistent link: https://www.econbiz.de/10013080876
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2010
sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in …
Persistent link: https://www.econbiz.de/10003937114
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang (contributor);  … - 2008
It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...
Persistent link: https://www.econbiz.de/10003719627
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Monetary Persistence and the Labor Market : A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2021
It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...
Persistent link: https://www.econbiz.de/10013325145
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Monetary Persistence and the Labor Market : A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2021
sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in …
Persistent link: https://www.econbiz.de/10013316264
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Unemployment in the European Union : institutions, prices, and growth : presented at CESifo Area Conference on Employment and Social Protection, June 2004
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2004
This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain … reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the … growth drivers. Estimating a system of labor market equations for a panel of EU countries, we derive the dynamic unemployment …
Persistent link: https://www.econbiz.de/10011450238
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Monetary and labor policies under market frictions
Merkl, Christian - 2007
in East Germany after unification, the existence of unemployment traps, their influence on labor market persistence and …
Persistent link: https://www.econbiz.de/10010460022
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Characteristics of unemployment dynamics : the chain reaction approach
Karanassou, Marika; Snower, Dennis J. - 2000
The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …
Persistent link: https://www.econbiz.de/10011325992
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Characteristics of unemployment dynamics : the chain reaction approach
Karanassou, Marika; Snower, Dennis J. - 2000
The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …
Persistent link: https://www.econbiz.de/10001502455