Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/30747 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorLechthaler, Wolfgangen
dc.contributor.authorMerkl, Christianen
dc.contributor.authorSnower, Dennis J.en
dc.date.accessioned2010-03-03-
dc.date.accessioned2010-05-14T08:26:45Z-
dc.date.available2010-05-14T08:26:45Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/30747-
dc.description.abstractIn this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business cycle. The reactions to monetary and real shocks become much more sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in the standard search and matching model.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2935en
dc.subject.jelA00en
dc.subject.jelA10en
dc.subject.jelA11en
dc.subject.jelE24en
dc.subject.jelE32en
dc.subject.jelE52en
dc.subject.jelJ23en
dc.subject.ddc330en
dc.subject.keywordmonetary persistenceen
dc.subject.keywordlabor marketen
dc.subject.keywordhiring and firing costsen
dc.subject.stwGeldpolitiken
dc.subject.stwSchocken
dc.subject.stwHysteresisen
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwArbeitsmobilitäten
dc.subject.stwKostenen
dc.subject.stwTheorieen
dc.titleMonetary persistence and the labor market: A new perspective-
dc.typeWorking Paperen
dc.identifier.ppn620106956en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.