A Cross-Country Comparison of Labor Market Frictions
نویسندگان
چکیده
منابع مشابه
A Cross-Country Comparison of Labor Market Frictions
In this paper we de ne and estimate measures of labor market imperfection in the context of an equilibrium search and matching framework. The method uses readily available data on distributions of unemployment and job durations and wages. We estimate an index of search frictions, the magnitude of structural and frictional unemployment, and the average monopsony power of rms, and we examine the ...
متن کاملDisinflation with labor market frictions
This paper studies disinflationary shocks in a non-linear New Keynesian model with search and matching frictions and moral hazard in the labor markets. Our focus is on understanding the wage formation process as well as welfare costs of disinflations in the presence of such labor market frictions. The presence of imperfect information in labor markets imposes a lower bound on worker surplus tha...
متن کاملLabor-Market Frictions and Optimal Inflation∗
In main theories of monetary non-neutrality the Ramsey optimal inflation rate varies between the negative of the real interest rate and zero. This paper explores how the interaction of nominal wageand search and matching frictions affect the planners choice. We show that adding the combination of such frictions to the canonical monetary model can generate an optimal inflation that is significan...
متن کاملAggregate Asset Pricing with Labor Market Frictions ∗
Even though labor income represents about two thirds of disposal income to household, its role has largely been neglected by asset pricing models. In this paper, we solve a general equilibrium model which can both rationalize important feature of labor markets as well as financial markets. To this end, we embed labor market search frictions into a business cycle model where the representative h...
متن کاملMarket Frictions and the Competitive Advantage of Internal Labor Markets
We show that frictions in labor and capital markets can be a source of competitive advantage for a¢ liates of corporate groups over standalone rms in environments where bene ts from internal marketsexibility are high. We argue that the advantage of exibility in changing labor inputs is related to how di¢ cult it is to change capital inputs. We predict that if substituting labor with capital...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.324960