Similar Search Results

Is Labor Supply Important for Business Cycles?

Krusell, Per; Rogerson, Richard; Mukoyama, Toshihiko; … - National Bureau of Economic Research (NBER) - 2012

the three labor market states: employment, unemployment, and non-participation. We use it to study the implications of two … channel is key. A model with friction shocks only, calibrated to match unemployment fluctuations, accounts for only a small …

Persistent link: https://www.econbiz.de/10009652762

Unions in a Frictional Labor Market

Krusell, Per; Rudanko, Leena - National Bureau of Economic Research (NBER) - 2012

-run unemployment. In the short run, however, the union raises current wages above the efficient level, in order to appropriate …-perfect equilibrium, not only is unemployment well above its efficient level, but the union wage also exhibits endogenous real stickiness …

Persistent link: https://www.econbiz.de/10010951384

Frictional Wage Dispersion in Search Models: A Quantitative Assessment

Hornstein, Andreas; Krusell, Per; Violante, Giovanni L. - National Bureau of Economic Research (NBER) - 2007

Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small …

Persistent link: https://www.econbiz.de/10005778040

Aggregate Labor Market Outcomes: The Role of Choice and Chance

Krusell, Per; Rogerson, Richard; Mukoyama, Toshihiko; … - National Bureau of Economic Research (NBER) - 2009

employment and unemployment. We use a model that features both frictions and an operative labor supply margin to examine the … robustness of this feature to the inclusion of a empirically reasonable labor supply channel. The response of unemployment to …

Persistent link: https://www.econbiz.de/10005037668

A Three State Model of Worker Flows in General Equilibrium

Krusell, Per; Rogerson, Richard; Mukoyama, Toshihiko; … - National Bureau of Economic Research (NBER) - 2009

We develop a simple model featuring search frictions and a nondegenerate labor supply decision along the extensive margin. The model is a standard version of the neoclassical growth model with indivisible labor with idiosyncratic shocks and frictions characterized by employment loss and...

Persistent link: https://www.econbiz.de/10005037687

Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations

Krusell, Per; Mukoyama, Toshihiko; Sahin, Aysegul - National Bureau of Economic Research (NBER) - 2009

set of contingent claims conditional on this risk. We use the model to evaluate a tax-financed unemployment insurance … stochastic ones---generate rather limited unemployment effects, unless workers are close to indifferent between working and not …

Persistent link: https://www.econbiz.de/10005088667