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Labor market institutions and the cost of recessions /
This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance (JSA), on the output cost and welfare cost of recessions. The paper develops a tractable incomplete-market model with search unemployment, skill depreciation during unemployment, and...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
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| Colección: | IMF working paper ;
WP/17/87. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; 1. Introduction; 2. German Labor Market Reforms 2003-2005; 2.1 Historical Background; 2.2 Hartz III Reform; 2.3 Hartz IV; 2.4 Time Series Evidence; 3. Model; 3.1 Workers; 3.2 Firms; 3.3 Equilibrium; 3.4 Equilibrium Characterization; 3.5 Computation and Tractability; 4. Cost of Recessions; 4.1 Welfare Cost of Recessions; 4.2 Output Cost of Recessions; 4.3 A Decomposition; 4.4 Labor Market Institutions and the Cost of Recessions; 5. Calibration; 5.1 General Specifications; 5.2 Search Technology and Mean Transition Rates; 5.3 Search Preferences and Search Elasticity.
- 5.4 Skill Loss During Unemployment5.5 Wage Growth and Wage Risk; 5.6 Unemployment Benefits; 5.7 Discount Factor and Cost of Financial Intermediation; 5.8 Cyclical Variations in Job Finding and Job Destruction Rates; 5.9 Unemployment and Output Dynamics during Recessions; 6. Quantitative Results; 6.1 Reform Effects on Model Parameters; 6.2 Long-Run Reform Effects on Job Finding Rates and Unemployment; 6.3 Reform Effects on Dynamic Response to Recession Shock; 6.4 Output Cost of Recessions; 6.5 Welfare Cost of Recessions; 7. Robustness Analysis; 7.1 Changes in Calibration Targets.
- 7.2 Search and Matching with Vacancy Posting7.3 Wedge between Micro-and Macro-Elasticity; 7.4 Unemployment Insurance and Match Quality; 8. Conclusion; References; Tables; 1. Output Cost of Recessions; 2. Welfare Cost of Recessions; 3. Output Cost of Recessions
- Diamond-Mortensen-Pissarides; Figures; 1. Output during Pre-Reform Recessions and Great Recession; 2. Average Net Replacement Rate 201-2010; 3. Quarterly Job Finding Rates by Duration of Unemployment Spell 2000-2011; 4. Beveridge Curve 2000-2015; 5. Unemployment Rate 1970-2015.
- 6. Cyclical Unemployment during Pre-Reform Recessions: Data and Model7. Output during Pre-Reform Recessions: Date and Model; 8. Cyclical Unemployment during Pre-Reform and Post-Reform Recessions; 9. Output during Pre-Reform and Post-Reform Recessions.