Download or read book The Cyclical Behavior of Equilibrium Unemployment and Vacancies Across OECD Countries written by Pedro S. Amaral and published by . This book was released on 2014 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that the inability of a standardly calibrated labor search-and-matching model to account for labor market volatility extends beyond the U.S. to a set of OECD countries. That is, the volatility puzzle is ubiquitous. We argue cross-country data is helpful in scrutinizing between potential solutions to this puzzle. To illustrate this, we show that the solution proposed in Hagedorn and Manovskii (2008) continues to deliver counterfactually low volatility in countries where labor productivity persistence and/or steady-state job-finding rates are sufficiently low. Moreover, the model's ability to generate high enough volatility depends on vacancy-filling-rate levels that seem counterfactual outside the U.S.
Download or read book The cyclical behavior of equilibrium unemployment and vacancies in the US and Europe written by Alejandro Justiniano and published by . This book was released on 2011 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We set-up a real business cycle model with search and matching frictions driven by several shocks, which nests full Nash Bargaining and wage rigidity as special cases and includes other transmission mechanisms suggested by the literature for the propagation and amplification of disturbances. The model is estimated using full information methods for two Anglo-Saxon countries (the US and the UK), two Continental European countries (France and Germany) and two Scandinavian countries (Norway and Sweden). We conduct inference with mixed frequency data, combining quarterly series for unemployment, vacancies, GDP, consumption, and investment, with annual data on unemployment flows. Parameters and shocks are estimated separately for each country, which can then vary in terms of search and hiring costs, workers' bargaining power, unemployment benefits levels, wage rigidity and the stochastic properties of disturbances. Overall, the structural model accounts reasonably well for differences in labor market dynamics observed between the two sides of the Atlantic and within Europe. Our estimates indicate that there is considerable cross-country variation in the contribution of technology shocks to the cyclical fluctuations of the labor market. Technology shocks alone replicate remarkably well the volatility in vacancies, unemployment and finding probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger role in most European countries relative to the US.
Download or read book The Cyclical Behavior of Equilibrium Unemployment and Vacancies written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited written by Marcus Hagedorn and published by . This book was released on 2008 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The cyclical behaviour of equilibrium unemployment and vacancies revised written by Marcus Hagedorn and published by . This book was released on 2008 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The OECD Jobs Strategy Implementing the OECD Jobs Strategy Assessing Performance and Policy written by OECD and published by OECD Publishing. This book was released on 1999-09-21 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study puts the spotlight on groups at the margin of the labour market, and looks at the policies required to better integrate them.
Download or read book Equilibrium Unemployment Theory second edition written by Christopher A. Pissarides and published by MIT Press. This book was released on 2000-03-02 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
Download or read book OECD Employment Outlook 2014 written by OECD and published by OECD Publishing. This book was released on 2014-09-03 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Employment Outlook 2014 includes chapters on recent labour market developments with a special section on earnings, job quality, youth employment, and forms of employment and employment protection.
Download or read book Labor Credit and Goods Markets written by Nicolas Petrosky-Nadeau and published by MIT Press. This book was released on 2017-11-10 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.
Download or read book Good Jobs for All in a Changing World of Work The OECD Jobs Strategy written by OECD and published by OECD Publishing. This book was released on 2018-12-04 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The labour markets of OECD and emerging economies are undergoing major transformations. The widespread slow-down in productivity and wage growth and high levels of income inequality in many countries are coupled with structural changes linked to the digital revolution, globalisation and ...
Download or read book Unemployment Persistence and Insider outsider Forces in Wage Determination written by Bertil Holmlund and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Deep Habits and the Cyclical Behaviour of Equilibrium Unemployment and Vacancies written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We extend the standard textbook search and matching model by introducing deep habits in consumption. The cyclical fluctuations of vacancies and unemployment in our model can replicate those observed in the US data, with labour market tightness being 20 times more volatile than consumption. Vacancies display a hump-shaped response to technology shocks as well as autocorrelation coefficients that are in line with the empirical evidence. Our model preserves the assumption of fully flexible wages for the new hires and the calibration is consistent with the estimated elasticity of unemployment to unemployment benefits. The numerical simulations generate an artificial Beveridge curve which is in line with the data.
Download or read book Equilibrium Unemployment Dynamics in a Panel of OECD Countries written by Ragnar Nymoen and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We focus on the equilibrium unemployment rate as a parameter implied by a dynamic aggregate model of wage and price setting. The equilibrium unemployment rate depends on institutional labour market institutions through mark-up coefficients. Compared with existing studies, the resulting final equation for unemployment has a richer dynamic structure. The empirical investigation is conducted in a panel data framework and uses OECD data up to 2012. We propose to extend the standard estimation method with time dummies to control and capture the effects of common and national shocks by using impulse indicator saturation (WG-IIS), which has not been previously used on panel data. WG-IIS robustifies the estimators of the regression coefficients in the dynamic model, and it affects the estimated equilibrium unemployment rates. We find that wage co-ordination stands out as the most important institutional variable in our data set, but there is also evidence pointing to the tax wedge and the degree of compensation in the unemployment insurance system as drivers of equilibrium unemployment.
Download or read book Policies Towards Full Employment written by OECD and published by OECD Publishing. This book was released on 2000-04-19 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of a conference on labour markets. It advances thinking on new policy measures, such as active labour market policies and measures to "make work pay".
Download or read book Structural Estimates of Equilibrium Unemployment in Six OECD Economies written by Albert van der Horst and published by . This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Disoccupazione in Europa written by Olivier J. Blanchard and published by Edizioni Dell'elefante. This book was released on 1999 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Employment and Unemployment of Women in OECD Countries written by Liba Paukert and published by . This book was released on 1984 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the major trends in women's employment and unemployment over the past two decades in Organisation for Economic Co-operation and Development member countries. Employment and unemployment trends in the labor force by sex are first considered. The report next examines the growth of the female labor supply and the trends in the labor force participation of women with an analysis of the factors responsible for these developments. It then analyzes the growth of the demand for female labor sector by sector and the development of part-time work, short-term and casual employment, the impact of technological change, and male and female earnings differentials as they have characterized female employment trends. On the basis of these developments, which are reviewed on the two sides of the labor market, the report examines in a comparative way the movements over conjunctural cycles of male and female unemployment and the reasons for its development. Twenty-three tables are included. (YLB)
