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2001-07-07Buch DOI: 10.18452/3581
Complementarity of Labor Market Institutions, Equilibrium Unemployment and the Propagation of Business Cycles
dc.contributor.authorBurda, Michael
dc.contributor.authorWeder, Mark
dc.date.accessioned2017-06-15T21:27:30Z
dc.date.available2017-06-15T21:27:30Z
dc.date.created2005-10-13
dc.date.issued2001-07-07
dc.identifier.issn1436-1086
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4233
dc.description.abstractThis paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous time spent in search, Nash{bargained wages, payroll taxation, and differential support for unemployed labor in search and leisure are central aspects of the model. For plausible regions of the policy and institutional parameter space, the model exhibits more persistence than standard RBC models and can exhibit indeterminacy of rational expectations paths without increasing returns in production. Furthermore, labor market institutions act in a complementary fashion in generating these effects.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectBusiness Cycleseng
dc.subjectEuropean Labor Marketseng
dc.subjectIndeterminacyeng
dc.subject.ddc330 Wirtschaft
dc.titleComplementarity of Labor Market Institutions, Equilibrium Unemployment and the Propagation of Business Cycles
dc.typebook
dc.identifier.urnurn:nbn:de:kobv:11-10049983
dc.identifier.doihttp://dx.doi.org/10.18452/3581
local.edoc.container-titleSonderforschungsbereich 373: Quantification and Simulation of Economic Processes
local.edoc.pages30
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2001
local.edoc.container-issue49
local.edoc.container-year2001
local.edoc.container-erstkatid2135319-0

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