Capital mobility and labor market volatility

Capital mobility and labor market volatility

We used a dynamic two-country optimizing model featuring efficiency wages to analyze the implications of capital mobility for labor market volatility. Capital mobility magnifies the short-run effects of productivity shocks and monetary shocks on employment and the real wage, but dampens the medium-r...

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Veröffentlicht in:International economics and economic policy 2010-12, Vol.7 (4), p.391-409
Hauptverfasser: Alper Çenesiz, M, Pierdzioch, Christian
Format: Artikel
Sprache:eng
Schlagworte:
Capital mobility
Consumer Price Index
Economic Policy
Economics
Economics and Finance
Efficiency
Efficiency wages
Employment
Equilibrium
Globalization
Households
International Economics
Labor market
Labor market volatility
Macroeconomics
Macroeconomics/Monetary Economics//Financial Economics
Mobility
Original Paper
Pricing policies
Productivity
Public Finance
Statistics
Studies
Volatility
Wages & salaries
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Beschreibung
Zusammenfassung:We used a dynamic two-country optimizing model featuring efficiency wages to analyze the implications of capital mobility for labor market volatility. Capital mobility magnifies the short-run effects of productivity shocks and monetary shocks on employment and the real wage, but dampens the medium-run effects. The overall effects of capital mobility on the volatility and the cyclical properties of employment and the real wage are moderate.
ISSN:1612-4804
1612-4812
DOI:10.1007/s10368-010-0146-z