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Hiring, separation, and real downward wage rigidity in European economies

Author

Listed:
  • Marcel Jansen

    (Univ. Carlos III de Madrid)

  • James Costain

    (Bank of Spain)

Abstract

Our new paper takes the same model to European data. First, we apply the methodology of Shimer ("Reassessing the Ins and Outs of Unemployment", mimeo, 2005) to calculate time series for hiring and separation probabilities in a set of European countries that have data on short-term and long-term unemployment. Second, we estimate a subset of the parameters of our model for each of these countries by minimizing the distance between the moments in the data and those in our simulations. Third, we investigate how our parameter estimates are related to OECD indicators of labor market institutions in these countries.

Suggested Citation

  • Marcel Jansen & James Costain, 2007. "Hiring, separation, and real downward wage rigidity in European economies," 2007 Meeting Papers 698, Society for Economic Dynamics.
    • Handle: RePEc:red:sed007:698
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