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Escaping the Unemployment Trap: The Case of East Germany
Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008
This paper addresses the question of why high unemployment rates tend to persist even after their proximate causes have been reversed (e.g., after wages relative to productivity have fallen). We suggest that the longer people are unemployed, the greater is their cumulative likelihood of falling...
Persistent link: https://www.econbiz.de/10005822417
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The Minimum Wage from a Two-Sided Perspective
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2014
This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show that...
Persistent link: https://www.econbiz.de/10011103270
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The minimum wage from a two-sided perspective
Brown, Alessio J.G.; Merkl, Christian; Snower, Dennis J. - In: Economics Letters 124 (2014) 3, pp. 389-391
This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms’ job offer and workers’ job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show...
Persistent link: https://www.econbiz.de/10010930730
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The Minimum Wage from a Two-Sided Perspective
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - CESifo - 2014
This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms’ job offer and workers’ job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show...
Persistent link: https://www.econbiz.de/10010877633
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The Minimum Wage from a Two-Sided Perspective
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2014
This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show that...
Persistent link: https://www.econbiz.de/10010887014
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 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/10005761760
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis - CESifo - 2010
In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business...
Persistent link: https://www.econbiz.de/10008572528
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2010
In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business...
Persistent link: https://www.econbiz.de/10008530350
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 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/10005818879
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Eurokrise, Energiewende, Konjunkturabkühlung: Ende des deutschen Jobwunders?
Hundt, Dieter; Weise, Frank-Jürgen; Lesch, Hagen; … - In: Ifo Schnelldienst 65 (2012) 01, pp. 03-13
positive Entwicklung am Arbeitsmarkt geben wird und die Arbeitslosenzahl unter der Marke von 3 Millionen bleibt. Die gute … 2003 bis 2005. Wolfgang Lechthaler, Institut für Weltwirtschaft, und Christian Merkl, Universität Erlangen … Leistungsbilanzdefizite, nur moderate rezessive Schocks für Deutschland. Der deutsche Arbeitsmarkt verfüge über die Voraussetzungen, um einen …
Persistent link: https://www.econbiz.de/10009416128