English, Article, Journal or magazine article edition: Shocks and Institutions in a Job Matching Model Christian Haefke

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Shocks and Institutions in a Job Matching Model
Author
  • Christian Haefke
Physical Description
  • preprint
Notes
  • This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of the labor market with an interaction between shocks an institutions. It shows that a reduction in TF growth rates, an increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are "employment friendly". The paper also shows that an increase in turbulence, modelle as an increase probability of skill loss, is not a robust explanation for the European unemployment puzzle in the context of a matching model with both endogenous job creation and job estruction.
  • Job matching model, unemployment, unemployment benefits, turbulence, TFP slowdown
  • RePEc:upf:upfgen:568
Language
  • English
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