Reference : Job turnover, unemployment and labor market institutions
Scientific journals : Article
Business & economic sciences : Macroeconomics & monetary economics
Business & economic sciences : Special economic topics (health, labor, transportation…)
http://hdl.handle.net/10993/5478
Job turnover, unemployment and labor market institutions
English
Joseph, Gilles [Université Catholique de Louvain - UCL > IRES, Institut de recherches économiques et sociales]
Pierrard, Olivier [Université Catholique de Louvain - UCL > IRES, Institut de recherches économiques et sociales]
Sneessens, Henri mailto [Université Catholique de Louvain - UCL > IRES, Institut de recherches économiques et sociales]
2004
Labour Economics
Elsevier Science
11
4
451-468
Yes (verified by ORBilu)
International
0927-5371
[en] unemployment ; job flows ; institutions
[en] This paper studies the role of labor market institutions on unemployment and on
the cyclical properties of job flows. We construct an intertemporal general equilib-
rium model with search unemployment and endogenous job turnover, and examine the
consequences of introducing an unemployment benefit, a firing cost and a downward
wage rigidity. The model is able to reproduce the main cyclical properties of a typical
European economy. It also suggests that downward wage rigidities, rather than unem-
ployment benefit or firing cost, may well play a dominant role in explaining both the
high unemployment rate and the cyclical properties of such an economy.
Researchers
http://hdl.handle.net/10993/5478
http://www.journals.elsevier.com/labour-economics/

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