The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer?

By Christopher Pissarides. 2009

847 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2fe93ce455d10bdb5bf681dac35d68150d5879d1

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In Economics and Econometrics

Citations in the corpus

Imperfect Competition in the Labor Market (2011, background): “Much work in this area is phrased in terms of canonical models—one might mention the search and matching models of Pissarides (1985, 2000) or Mortensen and Pissarides (1994) or the wage-posting model of Burdett and Mortensen (1998).”
Labor Market Reform and Price Stability: An Application to the Euro Area (2009, neutral): “z' = (1 ) (1 ) q( ) + (h+ B w) [ + (1 ) (1 ) (1 p( ))] F w; (25)”
Wage Rigidity: A Solution to Several Asset Pricing Puzzles (2012, positive): “Consistent with the empirical findings of Pissarides (2009), in our model the spot wage is more volatile than the average wage.”
The impact of Syrian refugees on natives’ labor market outcomes in Turkey: evidence from a quasi-experimental design (2017, background): “19 Pissarides (2009) finds that wages of new hires are likely more responsive to the changes in labor market conditions.”
FiMod - a DSGE Model for Fiscal Policy Simulations (2012, methodology): “Following Pissarides (2009), we assume that upon matching the firm incurs a training cost, denoted by κtc.”
Resuscitating the Wage Channel in Models with Unemployment Fluctuations (2008, background): “For example, Fujita and Ramey (2007) reject the view that variations in the separation rate are negligible for explaining variations in unemployment relative to variations in hiring activity.”
The Cyclical Volatility of Labor Markets Under Frictional Financial Markets (2010, neutral): “Second, when credit markets are perfect, Γt boils down to γ , and the job creation condition reduces to γ q(θ P t ) = 1 1+ r Et [ yt+1−wt +(1− s) γ q(θ P t+1) ] (18)”
A Theory of Countercyclical Government Multiplier (2014, positive): “A lower bound is the elasticity of wages in existing jobs, estimated between 0.1 and 0.45 ( Pissarides 2009 .”