全球智库信息集成服务系统(G2TT): DP6784 A Caseworker Like Me - Does the Similarity between unemployed and Caseworker Increase Job Placements?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6784
	DP6784 A Caseworker Like Me - Does the Similarity between unemployed and Caseworker Increase Job Placements?
	Michael Lechner; Markus Frölich; Stefanie Behncke
发表日期	2008-04-23
出版年	2008
语种	英语
摘要	This paper takes a first step in analysing how a monetary union performs in the presence of labour market asymmetries. Differences in wage flexibility, market power and country sizes are allowed for in a setting with both country-specific and aggregate shocks. The implications of asymmetries for both the overall performance of the monetary union and the country-specific situation are analysed. It is shown that asymmetries are not only critical for country-specific performance but also for the overall performance of the monetary union. A striking finding is that aggregate output volatility is not strictly increasing in nominal rigidities but hump-shaped. Moreover, a disproportionate share of the consequences of wage inflexibility may fall on small countries. In the case of country-specific shocks, a country unambiguously benefits in terms of macroeconomic stability by becoming more flexible, while this is not necessarily the case for aggregate shocks. There may thus be a tension between the degree of flexibility considered optimal at the country level and at the aggregate level within the monetary union.
主题	International Macroeconomics
关键词	Business cycles monetary policy Monetary union Nominal wage rigidity Shocks Staggered contracts Wage formation
URL	https://cepr.org/publications/dp6784
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535632
推荐引用方式 GB/T 7714	Michael Lechner,Markus Frölich,Stefanie Behncke. DP6784 A Caseworker Like Me - Does the Similarity between unemployed and Caseworker Increase Job Placements?. 2008.