Showing 1 - 10 of 88
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008505490
This paper develops a joint evaluation of vocational training and unemployment insurance. This allows to analyze how these schemes complment each other from the viewpoints of labor market indicators and of welfare. For this purpose, a general equilibrium matching model is built where workers are...
Persistent link: https://www.econbiz.de/10004984915
This paper tries to bridge the gap between the theoretical and empirical analyses of the aggregate impacts of labor market policies (LMPs). Contrary to previous empirical studies, we conduct an econometric analysis based on sound theoretical foundations. The specification is based on an...
Persistent link: https://www.econbiz.de/10004984974
This paper proposes a new method to estimate the extent of job competition between workers with different schooling levels. We estimate the structural parameters of a matching function generalised to incorporate crowding out effects. We use flow data out of unemployment containing information on...
Persistent link: https://www.econbiz.de/10004985063
This paper is concerned with the general equilibrium effects of active labor market programs and the unemployment insurance system (the replacement ratio and the level of sanctions). It develops an equilibrium job matching model where active programs and the rate of sanctions have an amiguous...
Persistent link: https://www.econbiz.de/10004985067
This paper studies the role of labor market institutions on unemployment and on the cyclical properties of job flows. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine the consequences of introducing an unemployment benefit,...
Persistent link: https://www.econbiz.de/10004985118
This paper aims at explaining the dynamics of labor markets in Spain, especially the high persistence of unemployment and the Beveridge curve. We build a stochastic dynamic general equilibrium matching model, which assumes failures in the matching between vacancies and unemployed. We calibrate...
Persistent link: https://www.econbiz.de/10004985001
This paper re-examines the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging)...
Persistent link: https://www.econbiz.de/10008674348
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits displays a time-varying exit rate. Building on Semi-Markov processes, we translate these exit rates into an expression for the aggregate unemployment rate. Structural estimation...
Persistent link: https://www.econbiz.de/10008505481
We use a calibrated general equilibrium model with heterogeneous labor and search to evaluate the quantitative effects of various labor tax cut scenarios. The focus is on skill heterogeneity combined with downward wage rigidities at the low end of the skill ladder. Workers can take jobs for...
Persistent link: https://www.econbiz.de/10008505488