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  1. Using Non-technological Factors to Explain Changes in Unemployment

    Reiss, Lukas
    The main research question of this dissertation is whether factors other than labor productivity can help to explain short-run fluctuations and medium-run trends in unemployment in Austria respectively Western Continental Europe. In the part on analyzing short-term-fluctuations I will set up a New Keynesian DSGE model with a richly specified labor market. This model will be used to compare how different labor market specifications fit to Austrian quarterly data. Most importantly, the Bayesian model comparison indicates an important role for nominal wage rigidities and for a timely response of employment to changes in vacancies. Furthermore, models with consensual determination of...
    (application/pdf) - 18-oct-2016

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