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Productivity Shocks, Long-Term Contracts and Earnings Dynamics
Balke, Neele; Lamadon, Thibaut - 2020
backloaded in good times and frontloaded in bad times. We prove that there exists a unique spot target wage, which serves as an … attraction point for smooth wage adjustments. The structural model is estimated on matched employer-employee data from Sweden …
Persistent link: https://www.econbiz.de/10014090908
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Wages, Business Cycles, and Comparative Advantage
Chang, Yongsung - 2001
The standard equilibrium models of business cycles face a puzzling fact that total hours vary greatly over the business cycle without much variation in aggregate wages. The model augments the standard RBC model to include Lucas span of control. Distinction between market and non-market and...
Persistent link: https://www.econbiz.de/10014140988
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Improper Churn : Social Costs and Macroeconomic Consequences
Caballero, Ricardo J.; Hammour, Mohamad L. - 2003
This paper assembles elements that are essential in forming an integral picture of the way a "churning" economy functions and of the disruptions caused by transactional difficulties in labor and financial markets. We couch our analysis in a stochastic equilibrium model anchored with U.S....
Persistent link: https://www.econbiz.de/10014209407
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Matching labor's share in a search and matching model
Reicher, Christopher Phillip - 2011
In the United States, labor's share of income falls after a positive disturbance to productivity growth or inflation, and it remains low for some time. Previous researchers have argued that the negative relationship between productivity growth and labor's share is puzzling. I argue otherwise. A...
Persistent link: https://www.econbiz.de/10009299014
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Responses of Unemployment to Productivity Changes for a General Matching Technology
Ryan, Rich - 2023
Workers separate from jobs, search for jobs, accept jobs, and fund consumption with their wages. Firms recruit workers to fill vacancies, but search frictions prevent firms from instantly hiring available workers. Unemployment persists. These features are described by the...
Persistent link: https://www.econbiz.de/10014348607
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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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Employment reallocation over the business cycle: evidence from Danish data
Bertheau, Antoine; Bunzel, Henning; Vejlin, Rune Majlund - 2020
We present new evidence on how employment growth varies across firm types (size, productivity, and wage) and over the … due to poaching. High wage firms poach almost as many workers, but shed an almost equal amount to non-employment. Large … firms do not poach workers from smaller firms. In terms of employment cyclicality, we find that low-productive and low-wage …
Persistent link: https://www.econbiz.de/10012290637
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Vanishing procyclicality of productivity? : industry evidence
Wang, J. Christina - 2014 - This version: December 31, 2014
Labor productivity (LP) in the United States has gone from being procyclical to acyclical since the mid-1980s. Using industry-level data, this paper first shows that total factor productivity (TFP), which is LP net of capital deepening, has also become much less correlated with output as well as...
Persistent link: https://www.econbiz.de/10010490366
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011398011
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020