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Embodied Technical Change And The Fluctuations Of Wages and Unemployment Author info | Abstract | Publisher info | Download info | Related research | Statistics Michael Reiter
The paper shows that a matching model where technological change is partially embodied in the job match is successful in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model, it also explains a number of stylized facts on the dynamics of real wages, which have been found in the empirical labor literature.
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Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number
980.
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Date of creation: Oct 2006Date of revision:
Handle: RePEc:upf:upfgen:980Contact details of provider: Web page: http://www.econ.upf.edu/
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Keywords: Unemployment ; wage dynamics ; embodied technical change ; Other versions of this item:
Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
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Christian Haefke & Marcus Sonntag & Thijs van Rens, 2006.
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Christian Haefke & Marcus Sonntag & Thijs van Rens, 2007.
"Wage Rigidity and Job Creation ,"
Economics Working Papers
1047, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2008.
[Downloadable!] Haefke, Christian & Sonntag, Marcus & van Rens, Thijs, 2008.
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"The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited ,"
2005 Meeting Papers
460, Society for Economic Dynamics.
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Marcus Hagedorn & Iourii Manovskii, 2007.
"The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited ,"
IEW - Working Papers
iewwp351, Institute for Empirical Research in Economics - IEW.
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"The cyclical behavior of equilibrium unemployment and vacancies revisited ,"
Working Paper Series
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"The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited ,"
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"Employment Fluctuations with Equilibrium Wage Stickiness ,"
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James S. Costain & Michael Reiter, 2003.
"Business Cycles, Unemployment Insurance, and the Calibration of Matching Models ,"
Economics Working Papers
872, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2006.
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Other versions:
James S. Costain & Michael Reiter, 2003.
"Business Cycles, Unemployment Insurance, and the Calibration of Matching Models ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo Group Munich.
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"Business cycles, unemployment insurance, and the calibration of matching models ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 32(4), pages 1120-1155, April.
[Downloadable!] (restricted) Barbara Petrongolo & Christopher A. Pissarides, 2001.
"Looking into the Black Box: A Survey of the Matching Function ,"
Journal of Economic Literature ,
American Economic Association, vol. 39(2), pages 390-431, June.
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Other versions: Beaudry, Paul & Pages, Carmen, 2001.
"The cost of business cycles and the stabilization value of unemployment insurance ,"
European Economic Review ,
Elsevier, vol. 45(8), pages 1545-1572, August.
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Other versions: Gary Solon & Robert Barsky & Jonathan A. Parker, 1992.
"Measuring the Cyclicality of Real Wages: How Important is Composition Bias ,"
NBER Working Papers
4202, National Bureau of Economic Research, Inc.
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Other versions: Katharine G. Abraham & John C. Haltiwanger, 1995.
"Real Wages and the Business Cycle ,"
Journal of Economic Literature ,
American Economic Association, vol. 33(3), pages 1215-1264, September.
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Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Christopher A. Pissarides, 2007.
"The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer? ,"
CEP Discussion Papers
dp0839, Centre for Economic Performance, LSE.
[Downloadable!]
Christian Haefke & Marcus Sonntag & Thijs van Rens, 2007.
"Wage Rigidity and Job Creation ,"
Economics Working Papers
1047, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2008.
[Downloadable!]
Other versions:
Christian Haefke & Marcus Sonntag & Thijs van Rens, 2006.
"Wage Rigidity and Job Creation ,"
2006 Meeting Papers
773, Society for Economic Dynamics.
[Downloadable!] Haefke, Christian & Sonntag, Marcus & van Rens, Thijs, 2008.
"Wage Rigidity and Job Creation ,"
IZA Discussion Papers
3714, Institute for the Study of Labor (IZA).
[Downloadable!] Christian Haefke & Marcus Sonntag & Thijs van Rens, 2009.
"Wage Rigidity and Job Creation ,"
Kiel Working Papers
1504, Kiel Institute for the World Economy.
[Downloadable!]
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