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In a New Keynesian DSGE model with labor market frictions and liquidity-constrained consumers aggregate unemployment is likely to increase due to a non-persistent government spending shock. Furthermore, the group of asset-holding households reacts very differently from the group of...
Persistent link: https://www.econbiz.de/10010301351
This survey focuses on experimental labor markets investigating two aspects that deem us important for a better understanding of labor market relations and the consequences for labor market policies. The first part of the survey is dedicated to papers that assess the prevalence of reciprocal...
Persistent link: https://www.econbiz.de/10010291344
modelling options are distinguished and discussed: aggregated, representative households and microsimulation based on individual …
Persistent link: https://www.econbiz.de/10010307850
objective, if the elasticity of participation decreases along the distribution of skills, at the optimum, the average tax rate … is increasing, marginal tax rates are positive everywhere, while wages, unemployment rates and participation rates are … distorted downwards compared to their laissez-faire values. A simulation exercise confirms some of these properties under a …
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