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Search with multi-worker firms
Acemoglu, Daron; Hawkins, William B. - In: Theoretical economics : TE ; an open access journal in … 9 (2014) 3, pp. 583-628
We present a generalization of the standard random-search model of unemployment in which firms hire multiple workers and in which the hiring process is time-consuming as well as costly. We follow Stole and Zwiebel (1996a,b) and assume that wages are determined by continuous bargaining between...
Persistent link: https://www.econbiz.de/10011674212
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Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area
Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12
, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … 1999-2019, when the Federal Funds Rate and the Euro-Dollar exchange rate are added to the VAR model inflation shows … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of …
Persistent link: https://www.econbiz.de/10013168711
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A sustainable development of inflation in euro area requires continuously improving labor market
Dany-Knedlik, Geraldine - In: DIW weekly report : economy, politics, science : a … 8 (2018) 43, pp. 429-437
In the past five years, the inflation in the euro area has been well below the European Central Bank’s (ECB) aimed … inflation rate of close to but below two percent for achieving its objective of price stabilization in the medium term. The … present analysis shows that expectations of low inflation, rising cyclical unemployment, and external factors such as low …
Persistent link: https://www.econbiz.de/10011917388
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New evidence, old puzzles : technology shocks and labor market dynamics
Balleer, Almut - In: Quantitative economics : QE ; journal of the … 3 (2012) 3, pp. 363-392
Can the standard search-and-matching labor market model replicate the business cycle fluctuations of the job finding rate and the unemployment rate? In the odel, these fluctuations are driven by movements in productivity. This paper inestigates the sources of productivity fluctuations that are...
Persistent link: https://www.econbiz.de/10011756844
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Job vacancies in Colombia : 1976 - 2012
Álvarez, Andrés; Hofstetter Gascón, Marcel - In: IZA journal of labor & development 3 (2014), pp. 1-11
Based on the counting of Help-wanted advertisements in print newspapers, we build national vacancy indexes and vacancy rates for Colombia for the period 1976 - 2012. The result is the first dataset capturing the evolution of vacancies for Colombia and the first one covering such a long period...
Persistent link: https://www.econbiz.de/10010466551
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Anticipated productivity and the labor market
Chahrour, Ryan; Chugh, Sanjay K.; Potter, Tristan - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 897-934
We identify the main shock driving fluctuations in long‐horizon productivity expectations, consistent with theories of TFP news. The identified shock induces strong comovement patterns in output, consumption, investment, employment, and stock prices even though TFP does not change...
Persistent link: https://www.econbiz.de/10014362540
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Solving the Diamond-Mortensen-Pissarides model accurately
Petrosky-Nadeau, Nicolas; Zhang, Lu - In: Quantitative economics : QE ; journal of the … 8 (2017) 2, pp. 611-650
An accurate global projection algorithm is critical for quantifying the basic moments of the Diamond-Mortensen-Pissarides model. Log linearization under- states the mean and volatility of unemployment, but overstates the volatility of labor market tightness and the magnitude of the...
Persistent link: https://www.econbiz.de/10011801599
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - In: European economic review : EER 53 (2009) 8, pp. 908-936
Persistent link: https://www.econbiz.de/10003922932
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Beveridgean unemployment gap
Michaillat, Pascal; Saez, Emmanuel - In: Journal of public economics plus 2 (2021), pp. 1-17
This paper develops a sufficient-statistic formula for the unemployment gap-the difference between the actual unemployment rate and the efficient unemployment rate. While lowering unemployment puts more people into work, it forces firms to post more vacancies and to devote more resources to...
Persistent link: https://www.econbiz.de/10012800439
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Animal spirits, investment and unemployment : an old Keynesian view of the Great Recession
Guerrazzi, Marco - In: Economia : revista da ANPEC 16 (2015) 3, pp. 343-358
This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort...
Persistent link: https://www.econbiz.de/10011865573