Are labor unions important for business cycle fluctuations? Lessons from Bulgaria
نویسندگان
چکیده
منابع مشابه
Is Labor Supply Important for Business Cycles?
We build a general equilibrium model that features uninsurable idiosyncratic shocks, search frictions and an operative labor supply choice along the extensive margin. The model is calibrated to match the average levels of gross flows across the three labor market states: employment, unemployment, and non-participation. We use it to study the implications of two kinds of aggregate shocks for the...
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We study the e¤ects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning by doing, individuals supply more labor early in the life cycle and less as they approach retirement t...
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Macroeconomists—especially those studying monetary policy—often view the business cycle as a transitory departure from the smooth evolution of a neoclassical growth model. Important ideas contributed by Friedman, Lucas, and the developers of the sticky-price macro model generate this type of aggregate behavior. But the realbusiness cycle model shows that the neoclassical model implies anything ...
متن کاملLabor Hoarding and the Business Cycle
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In a remarkable empirical study of 168 U.S. manufacturing plants, James Medoff and Jon Fay (1985) have examined the magnitude of labor hoarding during economic contractions. They found that during its most recent trough quarter, the typical plant paid for about 8 percent more blue-co&t hours than were needed for regular production work. Some of these hours were used for other worthwhile work, a...
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ژورنال
عنوان ژورنال: Eurasian Economic Review
سال: 2019
ISSN: 1309-422X,2147-429X
DOI: 10.1007/s40822-019-00139-9