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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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The macroeconomics of labor and credit market imperfections
Wasmer, Etienne; Weil, Philippe - 2000
Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …
Persistent link: https://www.econbiz.de/10011336864
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Employment protection and capital-labor ratios
Janiak, Alexandre; Wasmer, Etienne - 2014
labor market institutions may sometimes favor physical and human capital investments in second-best environments. …
Persistent link: https://www.econbiz.de/10010387699
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Interpreting Europe and US labor markets differences : the specificity of human capital investments
Wasmer, Etienne - 2002
little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …
Persistent link: https://www.econbiz.de/10011412475
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The Macroeconomics of Labor and Credit Market Imperfections
Wasmer, Etienne; Weil, Philippe - 2000
Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …
Persistent link: https://www.econbiz.de/10010262387
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Labor Market Efficiency, Wages and Employment when Search Frictions Interact with Intrafirm Bargaining
Cahuc, Pierre; Wasmer, Etienne - 2001
In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring cost and constant returns of labor, the bargaining...
Persistent link: https://www.econbiz.de/10010262510
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Labor Market Flows and Equilibrium Search Unemployment
Garibaldi, Pietro; Wasmer, Etienne - 2001
This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages … individuals do not search for jobs when non-employed. Facing changes in the value of inactivity, individuals transit through three …
Persistent link: https://www.econbiz.de/10010262607
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Interpreting Europe and US Labor Markets Differences: The Specificity of Human Capital Investments
Wasmer, Etienne - 2002
little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …
Persistent link: https://www.econbiz.de/10010262696
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Comparing the effectiveness of employment subsidies
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2006
This paper provides a theoretical and quantitative analysis of various types of wellknown employment subsidies. Two important questions are addressed: (i) How should employment subsidies be targeted? (ii) How large should the subsidies be? We consider measures involving targeting workers with...
Persistent link: https://www.econbiz.de/10010277977
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Comparing the effectiveness of employment subsidies
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2010
This paper provides a theoretical and quantitative analysis of various types of wellknown employment subsidies. Two important questions are addressed: (i) How should employment subsidies be targeted? (ii) How large should the subsidies be? We consider measures involving targeting workers with...
Persistent link: https://www.econbiz.de/10011453727