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Keywords:Labor market - Europe 

Working Paper
Sand in the wheels of the labor market: the effect of firing costs on employment

This paper examines the effects of firing costs in a dynamic general equilibrium model where firms face stochastic demand. It derives analytically two simple closed-form equations, one for the supply of labor, the other for its demand. These equations determine the comparative static effects of changes in firing costs on the labor market. When negative shocks are more likely to occur than positive shocks, and when the frequency of these shocks is high, firing costs have a substantial negative impact on aggregate employment. In addition, product market integration, as it has occurred in the ...
International Finance Discussion Papers , Paper 796

Working Paper
The role of labor markets for Euro area monetary policy

In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions.> We first investigate to which extent a more flexible labor market would alter the business cycle behavior and the transmission of monetary policy. We find that while a lower degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation, the importance of other labor market rigidities for the transmission of shocks is rather limited. Second, ...
Working Papers , Paper 09-1

Conference Paper
Tax reform and labour market performance in the Euro area: a macroeconomic assessment



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Christoffel, Kai 1 items

Coenen, Günter 1 items

De Michelis, Andrea 1 items

Kuester, Keith 1 items

Linzert, Tobias 1 items

McAdam, Peter 1 items

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