http://www.bis.org/cbhub/list/jel_classification/jel_J41/index.rss Latest research hub papers with the JEL classification:J41 en http://www.Bankofengland.co.uk/publications/workingpapers/wp391.pdf Bank of England Working papers by Federico di Pace and Renato Faccini Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies 2010-06-03T12:43:59Z We extend the standard textbook search and matching model by introducing deep habits in consumption. The cyclical fluctuations of vacancies and unemployment in our model can replicate those observed in the US data, with labour market tightness being 20 times more volatile than consumption. Vacancies display a hump-shaped response to technology shocks as well as autocorrelation coefficients that are in line with the empirical evidence. Our model preserves the assumption of fully flexible wages for the new hires and the calibration is consistent with the estimated elasticity of unemployment to unemployment benefits. The numerical simulations generate an artificial Beveridge curve which is in line with the data. Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies 2010-06-03T12:43:59Z Abstract http://www.Bankofengland.co.uk/publications/workingpapers/wpabst10.htm#391 Full text http://www.Bankofengland.co.uk/publications/workingpapers/wp391.pdf Federico di Pace Renato Faccini Federico di Pace and Renato Faccini 2010-06 Bank of England Working papers E21 E24 E32 J41 J64 http://www.bof.fi/NR/rdonlyres/385276E1-A83E-4F12-B430-279EB09B3F90/0/1012netti.pdf Bank of Finland Discussion Papers by Juha Kilponen – Torsten Santavirta New evidence on implicit contracts from linked employer-employee data 2010-04-28T12:43:00Z We improve the precision of the test of the implicit contract model that Beaudry and DiNardo proposed twenty years ago. Our data set allows us to define the precise industry and plant of a particular employment relationship, link local labour market characteristics and company characteristics to the individual level of wages, and control for composition effects. We find evidence in favour of the spot market model of wage setting in the whole sample, but there is significant variation across industries and educational levels. In particular, the spot market matters most for low-skill workers, while the implicit contract model with one-sided limited commitment applies better to high-skill workers. New evidence on implicit contracts from linked employer-employee data 2010-04-28T12:43:00Z Abstract http://www.bof.fi/en/julkaisut/tutkimukset/keskustelualoitteet/2010/dp2010_12.htm Full text http://www.bof.fi/NR/rdonlyres/385276E1-A83E-4F12-B430-279EB09B3F90/0/1012netti.pdf Torsten Santavirta Juha Kilponen Juha Kilponen – Torsten Santavirta 2010-04-28 Bank of Finland Discussion Papers E32 J41 J64 http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1182.pdf European Central Bank Working papers by Philip Du Caju, Gábor Kátay, Ana Lamo, Daphne Nicolitsas, Steven Poelhekke, Inter-industry wage differentials in EU countries What do cross-country time varying data add to the picture?, 2010-04-21T17:40:59Z (JEL: J31, J41, J51) This paper documents the existence and main patterns of inter-industry wage differentials across a large number of industries for 8 EU countries (Belgium, Germany, Greece, Hungary, Ireland, Italy, Netherlands, and Spain) at two points in time (in general 1995 and 2002) and explores possible explanations for these patterns. The analysis uses the European Structure of Earnings Survey (SES), an internationally harmonised matched employer-employee dataset, to estimate inter-industry wage differentials conditional on a rich set of employee, employer and job characteristics. After investigating the possibility that unobservable employee characteristics lie behind the conditional wage differentials, a hypothesis which cannot be accepted, the paper investigates the role of institutional, industry structure and industry performance characteristics in explaining inter-industry wage differentials. The results suggest that inter-industry wage differentials are consistent with rent sharing mechanisms and that rent sharing is more likely in industries with firm-level collective agreements and with higher collective agreement coverage. Inter-industry wage differentials in EU countries What do cross-country time varying data add to the picture?, 2010-04-21T17:40:59Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1182.pdf Steven Poelhekke Philip Du Caju Ana Lamo Daphne Nicolitsas Gábor Kátay Philip Du Caju, Gábor Kátay, Ana Lamo, Daphne Nicolitsas, Steven Poelhekke, 2010-04-21 European Central Bank Working papers J31 J41 J51 http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2009_05.pdf Czech National Bank Working papers by Kamil Galušcák, Mary Keeney, Daphne Nicolitsas, Frank Smets, Pawel Strzelecki, Matija Vodopivec The Determination of Wages of Newly Hired Employees: Survey Evidence on Internal versus External Factors 2010-04-07T17:40:00Z JEL Codes: J31, J41 The Determination of Wages of Newly Hired Employees: Survey Evidence on Internal versus External Factors 2010-04-07T17:40:00Z Abstract http://www.cnb.cz/en/research/research_publications/cnb_wp/2009/cnbwp_2009_05.html Full text http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2009_05.pdf Mary Keeney Matija Vodopivec Frank Smets Kamil Galušcák Daphne Nicolitsas Pawel Strzelecki Kamil Galušcák, Mary Keeney, Daphne Nicolitsas, Frank Smets, Pawel Strzelecki, Matija Vodopivec 2009-04 Czech National Bank Working papers J31 J41 http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2008_12.pdf Czech National Bank Working papers by Jan Babecký, Kamil Dybczak, Kamil Galušcák Survey on wage and price formation of Czech firms 2010-04-07T17:40:00Z JEL Codes: C83, J31, J41, L11. Survey on wage and price formation of Czech firms 2010-04-07T17:40:00Z Abstract http://www.cnb.cz/en/research/research_publications/cnb_wp/2008/cnbwp_2008_12.html Full text http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2008_12.pdf Kamil Galušcák Kamil Dybczak Jan Babecký Jan Babecký, Kamil Dybczak, Kamil Galušcák 2008-04 Czech National Bank Working papers C83 J31 J41 L11 http://www.ecb.int/pub/pdf/scpwps/ecbwp964.pdf European Central Bank Working papers by Gábor Kátay Do firms provide wage insurance against shocks? Evidence from Hungary 2008-11-14T07:12:59Z Do firms provide wage insurance against shocks? Evidence from Hungary 2008-11-14T07:12:59Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp964.pdf Gábor Kátay Gábor Kátay 2008-11 European Central Bank Working papers C33 D21 J33 J41 http://www.newyorkfed.org/research/staff_reports/sr330.pdf New York Fed Staff reports by Renée B. Adams and Hamid Mehran Corporate Performance, Board Structure, and Their Determinants in the Banking Industry 2008-11-07T07:22:00Z Corporate Performance, Board Structure, and Their Determinants in the Banking Industry 2008-11-07T07:22:00Z Abstract http://www.newyorkfed.org/research/staff_reports/sr330.html Full text http://www.newyorkfed.org/research/staff_reports/sr330.pdf Hamid Mehran Renée B. Adams Renée B. Adams and Hamid Mehran 2008-06 New York Fed Staff reports G21 G34 J41 L22 http://www.clevelandfed.org/Research/Workpaper/2007/wp0725.pdf Cleveland Fed Working papers by Murat Tasci On-the-Job Search and Labor Market Reallocation 2008-02-09T07:14:59Z On-the-Job Search and Labor Market Reallocation 2008-02-09T07:14:59Z Full text http://www.clevelandfed.org/Research/Workpaper/2007/wp0725.pdf Murat Tasci Murat Tasci 2007-02 Cleveland Fed Working papers E24 E32 J40 J41 J64 http://www.ecb.int/pub/pdf/scpwps/ecbwp853.pdf European Central Bank Working papers by Marcus Hagedorn and Iourii Manovskii The cyclical behavior of equilibrium unemployment and vacancies revisited 2008-01-26T07:12:00Z The cyclical behavior of equilibrium unemployment and vacancies revisited 2008-01-26T07:12:00Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp853.pdf Iourii Manovskii Marcus Hagedorn Marcus Hagedorn and Iourii Manovskii 2008-01 European Central Bank Working papers E24 E32 J41 J63 J64 http://www.bankofcanada.ca/en/res/wp/2007/wp07-57.pdf Bank of Canada Working papers by Martin Gervais, Igor Livshits, and Césaire Meh Uncertainty and the Specificity of Human Capital 2007-12-29T07:10:59Z This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms. Accordingly, the fraction of individuals with specific human capital depends on the amount of uncertainty in the economy. Our model implies that while economies with more specific human capital tend to be more productive, they also tend to be more vulnerable to turbulence. As such, our theory sheds some light on the experience of Japan, where human capital is notoriously specific: while Japan benefited from this predominately specific labor force in tranquil times, this specificity may also have been at the heart of its prolonged stagnation. Uncertainty and the Specificity of Human Capital 2007-12-29T07:10:59Z Abstract http://www.bankofcanada.ca/en/res/wp/2007/wp07-57.html Full text http://www.bankofcanada.ca/en/res/wp/2007/wp07-57.pdf Igor Livshits Césaire Meh Martin Gervais Martin Gervais, Igor Livshits, and Césaire Meh 2007-12 Bank of Canada Working papers D92 J24 J41 J62 http://www.ecb.int/pub/pdf/scpwps/ecbwp776.pdf European Central Bank Working papers by Truman F. Bewley Insights gained from conversations with labor market decision makers 2007-07-24T17:34:00Z Insights gained from conversations with labor market decision makers 2007-07-24T17:34:00Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp776.pdf Truman F. Bewley Truman F. Bewley 2007-07 European Central Bank Working papers E24 J31 J41 http://www.riksbank.se/upload/Dokument_riksbank/Kat_publicerat/WorkingPapers/wp206.pdf Sveriges Riksbank Working Papers by Mikael Carlsson and Andreas Westermark Optimal Monetary Policy under Downward Nominal Wage Rigidity 2007-04-24T17:38:00Z Optimal Monetary Policy under Downward Nominal Wage Rigidity 2007-04-24T17:38:00Z Abstract http://www.riksbank.se/templates/Page.aspx?id=24459 Full text http://www.riksbank.se/upload/Dokument_riksbank/Kat_publicerat/WorkingPapers/wp206.pdf Mikael Carlsson Andreas Westermark Mikael Carlsson and Andreas Westermark 2007-04-13 Sveriges Riksbank Working Papers E52 E58 J41 http://217.110.182.54/download/volkswirtschaft/dkp/2007/200704dkp.pdf Deutsche Bundesbank Discussion Papers by Nikolai Stähler Unemployment and employment protection in a unionized economy with search frictions 2007-04-23T16:28:00Z Unemployment and employment protection in a unionized economy with search frictions 2007-04-23T16:28:00Z Full text http://217.110.182.54/download/volkswirtschaft/dkp/2007/200704dkp.pdf Nikolai Stähler Nikolai Stähler 2007-04-20 Deutsche Bundesbank Discussion Papers J41 J64 J65 J68 http://www.riksbank.se/upload/Dokument_riksbank/Kat_foa/WP_199_ny.pdf Sveriges Riksbank Working Papers by Mikael Carlsson and Andreas Westermark Monetary Policy and Staggered Wage Bargaining when Prices are Sticky 2007-01-01T12:00:00Z Monetary Policy and Staggered Wage Bargaining when Prices are Sticky 2007-01-01T12:00:00Z Abstract http://www.riksbank.se/templates/Page.aspx?id=23510 Full text http://www.riksbank.se/upload/Dokument_riksbank/Kat_foa/WP_199_ny.pdf Mikael Carlsson Andreas Westermark Mikael Carlsson and Andreas Westermark 2006-12-19 Sveriges Riksbank Working Papers E52 E58 J41 http://www.nbb.be/doc/ts/publications/wp/wp90En.pdf National Bank of Belgium Working Papers by Robert Plasman, François Rycx, Ilan Tojerow Industry wage differentials, unobserved ability and rent-sharing: evidence from matched worker-firm data, 1995-2002 2006-10-12T12:33:00Z Industry wage differentials, unobserved ability and rent-sharing: evidence from matched worker-firm data, 1995-2002 2006-10-12T12:33:00Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP+90.htm?l=en Full text http://www.nbb.be/doc/ts/publications/wp/wp90En.pdf François Rycx Robert Plasman Ilan Tojerow Robert Plasman, François Rycx, Ilan Tojerow 2006-10-12 National Bank of Belgium Working Papers D31 J31 J41 http://www.banque-france.fr/gb/publications/ner/1-152.htm Bank of France Working Papers by Denis Fougère Labour Market Structural Reforms: some Lessons from the Recent Studies 2006-08-24T17:30:59Z Labour Market Structural Reforms: some Lessons from the Recent Studies 2006-08-24T17:30:59Z Abstract http://www.banque-france.fr/gb/publications/ner/1-152.htm Denis Fougère Denis Fougère 2006-08 Bank of France Working Papers E24 E50 J21 J31 J41 http://www.frbsf.org/publications/economics/papers/2006/wp06-18bk.pdf San Francisco Fed Working Papers by Doms, Lewis Labor Supply and Personal Computer Adoption 2006-07-13T08:56:59Z Labor Supply and Personal Computer Adoption 2006-07-13T08:56:59Z Full text http://www.frbsf.org/publications/economics/papers/2006/wp06-18bk.pdf Ethan Lewis Mark E. Doms Doms, Lewis 2006-06 San Francisco Fed Working Papers J41 O33 http://www.federalreserve.gov/pubs/feds/2005/200517/200517pap.pdf Board of Governors of the Federal Reserve System FEDS series by Stephanie Aaronson and Julia Coronado Are Firms or Workers Behind the Shift Away from DB Pension Plan? 2005-04-30T07:14:59Z One of the most striking changes in the composition of household retirement savings over the past 20 years has been the shift from defined benefit to defined contribution pension plans. Understanding the factors underlying this shift is important for determining its impact on retirement saving adequacy. Yet previous research, which has mostly focused on factors affecting all firms, such as regulation or increased longevity, has yielded little consensus. In this study we estimate the contribution of changing workforce characteristics and production environments to the shift in pension coverage. Our findings suggest that, while aggregate factors explain a large part of the movement, changes in worker demand, due to evolving workforce characteristics, also contributed notably. On the supply side, we find support for the theory that technical change has reduced the value of DB plans. These supply and demand factors are particularly important for explaining the significant variation in cross-industry trends in pension coverage. Are Firms or Workers Behind the Shift Away from DB Pension Plan? 2005-04-30T07:14:59Z Abstract http://www.federalreserve.gov/pubs/feds/2005/200517/200517abs.html Full text http://www.federalreserve.gov/pubs/feds/2005/200517/200517pap.pdf Julia Coronado Stephanie Aaronson Stephanie Aaronson and Julia Coronado 2005-04 Board of Governors of the Federal Reserve System FEDS series J26 J32 J41 http://www.bportugal.pt/en-US/BdP%20Publications%20Research/WP200308.pdf Bank of Portugal Working papers by José Varejão, Pedro Portugal Why do Firms Use Fixed-Term Contracts? 2004-05-05T08:52:59Z Why do Firms Use Fixed-Term Contracts? 2004-05-05T08:52:59Z Full text http://www.bportugal.pt/en-US/BdP%20Publications%20Research/WP200308.pdf Pedro Portugal José Varejão José Varejão, Pedro Portugal 2003-05 Bank of Portugal Working papers J23 J41 http://www.bportugal.pt/en-US/BdP%20Publications%20Research/WP200108.pdf Bank of Portugal Working papers by Leandro Arozamena, Mário Centeno Tenure, Business Cycle and the Wage-Setting Process 2004-05-05T08:52:59Z Tenure, Business Cycle and the Wage-Setting Process 2004-05-05T08:52:59Z Full text http://www.bportugal.pt/en-US/BdP%20Publications%20Research/WP200108.pdf Mário Centeno Leandro Arozamena Leandro Arozamena, Mário Centeno 2001-05 Bank of Portugal Working papers J24 J31 J41 http://research.stlouisfed.org/wp/2003/2003-038.pdf St Louis Fed Working Papers by Leora Friedberg, Michael T. Owyang and Tara M. Sinclair Searching For Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage 2004-04-20T07:08:59Z Searching For Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage 2004-04-20T07:08:59Z Full text http://research.stlouisfed.org/wp/2003/2003-038.pdf Leora Friedberg Tara M. Sinclair Michael T. Owyang Leora Friedberg, Michael T. Owyang and Tara M. Sinclair 2003-11 St Louis Fed Working Papers E24 J32 J41 J63 J64 http://www.ecb.int/pub/pdf/scpwps/ecbwp304.pdf European Central Bank Working papers by Antonella Trigari Equilibrium unemployment, job flows and inflation dynamics 2004-04-13T17:32:00Z Equilibrium unemployment, job flows and inflation dynamics 2004-04-13T17:32:00Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp304.pdf Antonella Trigari Antonella Trigari 2004-02 European Central Bank Working papers E31 E32 E52 J41 J64 http://www.newyorkfed.org/research/epr/03v09n1/0304adam.pdf New York Fed Economic policy review by Renée Adams and Hamid Mehran Is Corporate Governance Different for Bank Holding Companies? 2004-01-01T12:00:00Z Is Corporate Governance Different for Bank Holding Companies? 2004-01-01T12:00:00Z Abstract http://www.newyorkfed.org/research/epr/03v09n1/0304adam.html Full text http://www.newyorkfed.org/research/epr/03v09n1/0304adam.pdf Hamid Mehran Renée Adams Renée Adams and Hamid Mehran 2003-04 New York Fed Economic policy review G21 G34 J41 L22 http://www.bof.fi/eng/6_julkaisut/6.1_SPn_julkaisut/6.1.5_Keskustelualoitteita/0319.pdf Bank of Finland Discussion Papers by Erkki Koskela - Rune Stenbacka Equilibrium unemployment under negotiated profit sharing 2003-09-01T12:00:00Z Equilibrium unemployment under negotiated profit sharing 2003-09-01T12:00:00Z Abstract http://www.bof.fi/eng/6_julkaisut/6.1_SPn_julkaisut/6.1.5_Keskustelualoitteita/dp19_03e.stm Full text http://www.bof.fi/eng/6_julkaisut/6.1_SPn_julkaisut/6.1.5_Keskustelualoitteita/0319.pdf Erkki Koskela Rune Stenbacka Erkki Koskela - Rune Stenbacka 2003-08-13 Bank of Finland Discussion Papers G32 J41 J51