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Theoretical models of downward real wage rigidity generate asymmetric wage cyclicality with real wages being rigid in … generate the asymmetric wage cyclicality found in the panel data. The model also can match most of the properties of wages and …
Persistent link: https://www.econbiz.de/10010490623
This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs). We estimate these two shocks jointly based on a...
Persistent link: https://www.econbiz.de/10010336790
This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether short-time work saves jobs in recessions. In our baseline scenario the rule based component of short-time work (i.e.,...
Persistent link: https://www.econbiz.de/10010344643
workers' entry wages are of similar magnitude as those predicted under monopsonistic wage setting, suggesting that monopsony … power should not be neglected when analysing wage cyclicality. …
Persistent link: https://www.econbiz.de/10010485288
retirement age into Cahuc, Postel-Vinay, and Robin s (2006) strategic wage bargaining model with counteroffers and heterogeneous … of the current match. The bargaining power parameter influences the worker's reservation wage. The model can reproduce …
Persistent link: https://www.econbiz.de/10010338396
whether they are complements or substitutes. Wage level, monitoring intensity, and consequently the desired enforceable effort …
Persistent link: https://www.econbiz.de/10010489889
fell by more than 20 %. The decentralisation of wage bargaining that started in 1983 may have contributed to this by making … employment more shock sensitive or by increasing wage mark-ups. In Swedish plant-level data for manufacturing 1970 96 relatively … less employment is in low-productivity plants after decentralisation than before, but the correlation between industry wage …
Persistent link: https://www.econbiz.de/10011572056
We develop a quantitative framework in which income inequality arises endogenously in response to productivity shocks. The framework accommodates sectoral inputoutput linkages, arbitrary elasticities of factors and intermediates, and heterogeneous workers that endogenously choose to supply their...
Persistent link: https://www.econbiz.de/10013443717
Persistent link: https://www.econbiz.de/10000856435
This paper studies the conditional patterns of unemployment dynamics in Germany. We employ a structural VAR model and identify a technology shock and two policy shocks by using standard restrictions. Interestingly, the worker reallocation process varies substantially with the identified shocks....
Persistent link: https://www.econbiz.de/10010336262