Hiring, separation, and real downward wage rigidity in European economies

Marcel Jansen and James Costain
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James Costain: Bank of Spain

No 698, 2007 Meeting Papers from Society for Economic Dynamics

Abstract: Our new paper takes the same model to European data. First, we apply the methodology of Shimer ("Reassessing the Ins and Outs of Unemployment", mimeo, 2005) to calculate time series for hiring and separation probabilities in a set of European countries that have data on short-term and long-term unemployment. Second, we estimate a subset of the parameters of our model for each of these countries by minimizing the distance between the moments in the data and those in our simulations. Third, we investigate how our parameter estimates are related to OECD indicators of labor market institutions in these countries.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed007:698

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