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Asset pricing, habit memory, and the labor market

Jaccard, Ivan - 2010

This article studies the asset pricing and the business cycle implications of habit formation in a production economy with capital adjustment costs and endogenous labor supply. A specification of internal habit in the mix of consumption and leisure which minimizes the wealth effect on labor...

Persistent link: https://www.econbiz.de/10009640396

Technology shocks and robust sign restrictions in a euro area SVAR

Peersman, Gert; Straub, Roland - 2004

This paper provides evidence for the impact of technology, labor supply, monetary policy and aggregate spending shocks on hours worked in the Euro area. The evidence is based on a vector autoregression identiﬁed using sign restrictions that are consistent with both sticky price and real...

Persistent link: https://www.econbiz.de/10009639427

Labor market institutions and the business cycle unemployment rigidities vs. real wage rigidities

Abbritti, Mirko; Weber, Sebastian - 2010

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the New Keynesian framework we argue that labor market institutions should be divided into those institutions that cause Unemployment Rigidities (UR) and those that cause Real Wage...

Persistent link: https://www.econbiz.de/10009640358

Nominal and real wage rigidities. In theory and in Europe

Knell, Markus - 2010

In this paper I study the relation between real wage rigidity (RWR) and nominal price and wage rigidity. I show that in a standard DSGE model RWR is mainly affected by the interaction of the two nominal rigidities and not by other structural parameters. The degree of RWR is, however,...

Persistent link: https://www.econbiz.de/10009640361

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...

Persistent link: https://www.econbiz.de/10009636527

Institutions and service employment

Messina, Julián - 2004

We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main differences in the recent expansion of service employment in OECD...

Persistent link: https://www.econbiz.de/10009636543

Changes in the Czech wage structure

Dybczak, Kamil; Galuščák, Kamil - 2010

changes in the observed characteristics of native workers, particularly a rising level of education, are responsible for … primary and tertiary education and are primarily due to rising labour demand. The negative immigrant-native wage gaps are … on increasing returns to education of native workers along the wage distribution. The returns are higher in 2006 than in …

Persistent link: https://www.econbiz.de/10009640298

Euro area labour markets

Bruha, Jan; Pierluigi, Beatrice; Serafini, Roberta - 2011

A small labour market model for the six largest euro area countries (Germany, France, Italy, Spain, the Netherlands, Belgium) is estimated in a state -space framework. The model entails, in the long run, four driving forces: a trend labour force component, a trend labour productivity component,...

Persistent link: https://www.econbiz.de/10009640610

Changes in the Austrian structure of wages, 1996 - 2002

Pointner, Wolfgang; Stiglbauer, Alfred - 2010

interesting gross effects that influence the wage distribution. We find that both composition effects due to gender, education and … between 1996 and 2002. There was an increase in the returns to education which accrued only to male workers. The positive … age and market-driven effects such as changes in returns and changing workplace characteristics contributed to a higher …

Persistent link: https://www.econbiz.de/10009640271

The response of labour taxation to changes in government debt

Holm-Hadulla, Fédéric; Leiner-Killinger, Nadine; … - 2011

This paper investigates the relationship between government debt and labour taxation for a panel of 18 EU countries over the period 1979-2008. The econometric estimates point to a statistically significant and economically relevant positive response of labour taxation to changes in the general...

Persistent link: https://www.econbiz.de/10009640641