Heterogeneous job-matches and the cyclical behavior of labor turnover

Article Abstract:

The impact of matching frictions in the labor market along with heterogeneity in job-matches on the dynamics of unemployment flows and unemployment rate was investigated. A dynamic general equilibrium model that takes into account new hires, recalls and temporary dismissals was developed for this purpose. The effect of each worker flow on the volatility, persistence and cyclicality of total unemployment flows and the unemployment rate was also examined. It was found that matching frictions contribute to the lead-lag relationship between unemployment flows and unemployment rate. Matching frictions, when combined with heterogeneous job-matches, also generate endogenous unemployment flows and an unemployment rate with dynamic properties that match experimental data.

Employee turnover

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Labor market search and the dynamic effects of taxes and subsidies

Article Abstract:

The dynamic effects of subsidies and taxes when there is unemployment are examined using a labor market search model. The search framework of unemployment is combined with an intertemporal model to analyze the dynamic effects of investment tax credit, capital income tax, labor income tax, vacancy subsidy and unemployment subsidy. It is shown that unemployment reduces the relative welfare cost of capital income taxation to labor income taxation. Vacancy subsidies are efficient and self-financed while sharing many characteristics with investment tax credits. In contrast, unemployment subsidies are highly inefficient, while labor income taxes can be more costly than capital income taxes.

Tax Law, Public Finance Activities, Taxation, Subsidies, Welfare economics, Equilibrium (Economics)

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Search, inflation and capital accumulation

Article Abstract:

A study has been conducted to develop a model that will allow the integration of a non-Walresian monetary model and the neoclassical growth framework and examine how money growth affects capital by affecting the extent of the exchanges. Monetary policies must influence the accumulation of productive factors to be able to have any rea output effect on economic growth. Findings indicated that a positive extensive effect on the number of trades can dominate the conventional negative intensive effects of money growth on individuals' labor input and real money balance.

Economic Planning & Research, Research, Economic aspects, Economic conditions, Inflation (Finance), Capital formation, Money supply, Households, Walrasian model, Inflation (Economics)

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