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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2009
wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …
Persistent link: https://www.econbiz.de/10010270767
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Skill-biased technological change and the business cycle
Balleer, Almut; Van Rens, Thijs - 2012
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10010286842
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New evidence, old puzzles: technology shocks and labor market dynamics
Balleer, Almut - 2009
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 model, fluctuations are prominently driven by productivity shocks which are commonly interpreted as technology shocks. I estimate different...
Persistent link: https://www.econbiz.de/10010265223
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Evaluating the search and matching model with sticky wages
Reicher, Christopher Phillip - 2010
Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching … wages, the sticky wage model unconditionally does a better job at matching wages than the flexible wage model. …
Persistent link: https://www.econbiz.de/10010274434
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Immigrating into a recession: Evidence from family migrants to the U.S.
Barsbai, Toman; Steinmayr, Andreas; Winter, Christoph - 2023
U.S. A one pp higher unemployment rate at arrival decreases annual wage income by four percent in the short run and two … percent in the longer run. The loss in wage income results primarily from lower hourly wages due to occupational downgrading …
Persistent link: https://www.econbiz.de/10013556515
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Sector-specific productivity shocks in a matching model
Wesselbaum, Dennis - 2010
Shocks driving the business cycle have different effects on low-skilled and high-skilled workers. This paper studies the effects of temporary and permanent sector-specific shocks in a New Keynesian matching model. We show that temporary sector-specific shocks have reallaction and aggregate...
Persistent link: https://www.econbiz.de/10010265843
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Qualifikationsanforderungen und Arbeitsformen in der Neuen Ökonomie
Christensen, Björn - 2001
Der vorliegende Beitrag untersucht die Auswirkungen der Neuen Ökonomie auf den deutschen Arbeitsmarkt. Neue Berufsfelder weisen nach dieser Untersuchung eine große und zunehmende Bedeutung auf. Gekennzeichnet ist diese Entwicklung durch verstärkte Humankapital- und Flexibilitätsanforderungen...
Persistent link: https://www.econbiz.de/10010260571
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Reciprocity and matching frictions
Wesselbaum, Dennis - 2010
We build a RBC endogenous separation matching model and introduce efficiency wages along the lines of Akerlof (1982). While the standard endogenous separation matching model reveals shortcomings in explaining correlations and volatilities jointly, this approach performs reasonably well along...
Persistent link: https://www.econbiz.de/10010265960
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The intensive margin puzzle and labor market adjustment costs
Wesselbaum, Dennis - 2011
This paper documents a puzzling fact, namely that there is a significant negative relation between employment protection legislation and the usage of the intensive margin of labor market adjustments. We then make use of a Real Business Cycle model and introduce search and matching frictions as...
Persistent link: https://www.econbiz.de/10010274437
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Firm training and wage rigidity
Lechthaler, Wolfgang - 2008
Although wage rigidity is among the most prominent subjects in modern economics, its effects on wage compression and … which can still by analyzed analytically. I am able to show that wage rigidity increases wage compression. However, contrary …
Persistent link: https://www.econbiz.de/10010263521