This paper analyzes the development of the labor market in Azerbaijan from the early 1990s until the early 2010s. The analysis shows that the labor market has a range of positive characteristics such as high labor force participation and employment, low youth and female unemployment,...

Following the real option literature, whether or not uncertainty shocks drive business cycles depends on the degree of adjustment frictions. The more plants freeze and remain inactive in response to increased uncertainty, the stronger the adverse effects on the economic activity. Using quarterly...

Zur Identifikation beruflicher Passungsprobleme auf dem Arbeitsmarkt bedarf es eines Indikators, welcher unter Berücksichtigung möglicher Anpassungsprozesse beider Marktseiten einfach zu interpretieren ist. Mit dieser Studie wird die Eignung von betrieblichen Suchdauern bei...

In this paper we investigate the quantitative importance of efficiency wages in explaining fluctuations in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with unobservable workers effort by employers and wage...

In this paper we introduce reciprocity in labor relations and government sector to investigate how well the real wage rigidity that results out of that arrangement ex- plains business cycle fluctuations in Bulgaria. The reciprocity mechanism described in this paper follows Danthine and Kurmann...

In this paper, I study the sources of cross-country differences in unemployment dynamics. Elsby, Hobijn and Sahin (forthcoming) find that in Anglo-Saxon economies unemployment fluctuations are mainly driven by changes in the outflows out of unemployment, while in continental European and Nordic...

The uniqueness of human labour is at question in times of smart technologies. The 250 years-old discussion on technological unemployment reawakens. Frey and Osborne (2013) estimate that half of US employment will be automated by algorithms within the next 20 years. Other follow-up studies...

This paper investigates for the presence of a New Keynesian Phillips (NKPC) curve in Hungary in the period 1981:3-2006:2, following the methodology proposed by Gali and Gertler (1999). They claim that a potential source of inflation may be the sluggish adjustment of real marginal costs to...

The EU is one of the three largest economies in the world. But its economy, which is still suffering from the cCOVID-19 pandemic and the negative effects of the Russian war in Ukraine, faces a bleak outlook. Inflation, or even stagflation, is a major concern as it reflects cost pressures from...

The EU is one of the three largest economies in the world. But its economy, which is still suffering from the cCOVID-19 pandemic and the negative effects of the Russian war in Ukraine, faces a bleak outlook. Inflation, or even stagflation, is a major concern as it reflects cost pressures from...