Search results for "Beveridge curve"

showing 3 items of 3 documents

ESTIMATING INCENTIVE AND WELFARE EFFECTS OF NONSTATIONARY UNEMPLOYMENT BENEFITS

2013

The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits displays time-varying exit rates. Building on semi-Markov processes, we translate these rates into an expression for the aggregate unemployment rate. Structural estimation using German microdata allows us to discuss the effects of an unemployment benefit reform (Hartz IV). The reform reduced unemployment by less than 0.1 percentage points. Contrary to general beliefs, the net wage for most skill and regional groups increased. Taking the insurance effect of unemployment benefits into account, however, the reform is welfare reducing for 76% of workers.

Economics and EconometricsLabour economicsIncentivemedia_common.quotation_subjectStructural estimationUnemploymentEconomicsWageMicrodata (statistics)Unemployment rateBeveridge curveWelfaremedia_commonInternational Economic Review
researchProduct

Job satisfaction as a unified mechanism for agent behaviour in a labour market with referral hiring

2016

This paper proposes to use job satisfaction (JS) as a unified mechanism for guiding agents' behaviour in the labour market. In the labour-market model presented here, JS affects agents' decisions on which vacancies to apply for, which of them to select in case of receiving several acknowledgements from firms and whether to quit the current job. The performance of the model depending on the structure of JS is studied. The model where JS depends on monetary (relative wages), social (relative number of friends), content and career components is compared with models where JS has only the first or the first two of these. It creates a more realistic firm size distribution and smaller duration of …

Economics and EconometricsLabour economicsReferralbusiness.industryMulti-agent systemmedia_common.quotation_subjectDistribution (economics)Computer Science ApplicationsUnemploymentEconomicsJob satisfactionDuration (project management)Beveridge curvebusinessMechanism (sociology)media_commonInternational Journal of Computational Economics and Econometrics
researchProduct

Unemployment and Vacancy Dynamics with Imperfect Financial Markets

2018

This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place. We model the financial sector as a monopolistically competitive banking sector that intermediates financial capital between firms. This structure implies a per period financial resource constraint which has a closed form solution and describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path crucially depends on the degree of wage flexibility. When wages do not depend on the unempl…

Organizational Behavior and Human Resource ManagementEconomics and EconometricsLabour economicsGeneral equilibrium theorymedia_common.quotation_subject05 social sciencesFinancial marketWageFinancial capitalIndirect finance0502 economics and businessUnemploymentEconomicsImperfect050207 economicsBeveridge curve050205 econometrics media_commonSSRN Electronic Journal
researchProduct