Labor Market Institutions and the Cost of Recessions

Released on by Mr.Tom Krebs
preview-18

  • Labor Market Institutions and the Cost of Recessions Book Detail

  • Author : Mr.Tom Krebs
  • Release Date : 2017-04-03
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 85
  • ISBN 13 : 1475592248
  • File Size : 71,71 MB
DOWNLOAD BOOK

Labor Market Institutions and the Cost of Recessions by Mr.Tom Krebs PDF Summary

Book Description: This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance (JSA), on the output cost and welfare cost of recessions. The paper develops a tractable incomplete-market model with search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The theoretical analysis shows that an increase in JSA and a reduction in UI reduce the output cost of recessions by making the labor market more fluid along the job finding margin and thus making the economy more resilient to macroeconomic shocks. In contarst, the effect of JSA and UI on the welfare cost of recessions is in general ambiguous. The paper also provides a quantitative appliation to the German labor market reforms of 2003-2005, the so-called Hartz reforms, which improved JSA (Hartz III reform) and reduced UI (Hartz IV reform). According to the baseline calibration, the two labor market reforms led to a substantial reduction in the output cost of recessions and a moderate reduction in the welfare cost of recessions in Germany.

Disclaimer: www.yourbookbest.com does not own Labor Market Institutions and the Cost of Recessions books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Redistribution Recession

The Redistribution Recession

File Size : 44,44 MB
Total View : 2273 Views
DOWNLOAD

"Major subsidies and regulations intended to help the poor and unemployed were changed in more than a dozen ways after 2007. Economist Casey B. Mulligan argues

The Great Recession

The Great Recession

File Size : 51,51 MB
Total View : 6835 Views
DOWNLOAD

Officially over in 2009, the Great Recession is now generally acknowledged to be the most devastating global economic crisis since the Great Depression. As a re