Search Results - "Michelacci, Claudio"

Optimal Life Cycle Unemployment Insurance by Michelacci, Claudio, Ruffo, Hernán

“…We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older workers. This is because the young tend to…”
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Social Contacts and Occupational Choice by BENTOLILA, SAMUEL, MICHELACCI, CLAUDIO, SUAREZ, JAVIER

“…Social contacts help to find jobs, but not necessarily in the occupations where workers are most productive. Hence social contacts can generate mismatch…”
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Low Returns in R&D Due to the Lack of Entrepreneurial Skills by Michelacci, Claudio

“…This paper proposes a model of endogenous growth where innovating requires both researchers, who produce inventions, and entrepreneurs who implement them. As…”
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Ambiguous Policy Announcements by MICHELACCI, CLAUDIO, PACIELLO, LUIGI

“…We study the effects of monetary announcements when agents face Knightian uncertainty about the commitment capacity of the monetary authority. Households are…”
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Why so Many Local Entrepreneurs? by Michelacci, Claudio, Silva, Olmo

“…We document that the fraction of entrepreneurs working in the region where they were born is significantly higher than the corresponding fraction for dependent…”
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Cross-sectional heterogeneity and the persistence of aggregate fluctuations by Michelacci, Claudio

“…The microevidence indicates that small firms grow faster than big firms. I argue that this relationship between the expected growth rate of a firm and its size…”
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Are they all like Bill, Mark, and Steve? The education premium for entrepreneurs by Michelacci, Claudio, Schivardi, Fabiano

“…•We study returns to education for US entrepreneurs over the last 30 years.•The education premium has increased substantially more for entrepreneurs than for…”
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From Weber to Kafka: Political Instability and the Overproduction of Laws by Gratton, Gabriele, Guiso, Luigi, Michelacci, Claudio, Morelli, Massimo

“…With inefficient bureaucratic institutions, the effects of laws are hard to assess and incompetent politicians may pass laws to build a reputation as skillful…”
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The Extensive Margin of Aggregate Consumption Demand by Michelacci, Claudio, Paciello, Luigi, Pozzi, Andrea

“…Abstract About half of the change in U.S. non-durable consumption expenditure is due to changes in the products entering households’ consumption basket (the…”
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Financial Markets and Wages by MICHELACCI, CLAUDIO, QUADRINI, VINCENZO

“…We study a labour market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an…”
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Labor supply with job assignment under balanced growth by Michelacci, Claudio, Pijoan-Mas, Josep

“…We consider a competitive equilibrium growth model where technological progress is embodied into new jobs which are assigned to workers of different skills. In…”
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Intertemporal Labour Supply with Search Frictions by MICHELACCI, CLAUDIO, PIJOAN-MAS, JOSEP

“…Starting in the 1970's, wage inequality and the number of hours worked by employed U.S. prime-age male workers have both increased. We argue that these two…”
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The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks by Canova, Fabio, Lopez-Salido, David, Michelacci, Claudio

“…We analyse how unemployment, job-finding and job-separation rates react to neutral and investment-specific technology shocks. Neutral shocks increase…”
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Employment and Output Adjustment in the OECD: A Disaggregate Analysis of the Role of Job Security Provisions by Burgess, Simon, Knetter, Michael, Michelacci, Claudio

“…Job security provisions are frequently cited as inhibiting the functioning of labour markets in Europe. However, as with many forms of non-price regulation, it…”
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DOES IDIOSYNCRATIC BUSINESS RISK MATTER FOR GROWTH? by Michelacci, Claudio, Schivardi, Fabiano

“…Several imperfections can prevent entrepreneurs from diversifying away the idiosyncratic risk of their business. As a result idiosyncratic risk discourages…”
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The effects of technology shocks on hours and output: a robustness analysis by Canova, Fabio, Lopez-Salido, David, Michelacci, Claudio

“…We analyze the effects of neutral and investment-specific technology shocks on hours and output. Long cycles in hours are removed in a variety of ways. Hours…”
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Financial markets and wages by Michelacci, Claudio, Quadrini, Vincenzo

“…We study a labour market equilibrium model in which firms sign optimal long-term contracts with workers. Firms that are financially constrained offer an…”
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Business Creation and the Stock Market by Michelacci, Claudio, Suarez, Javier

“…We claim that the stock market encourages business creation, innovation, and growth by allowing the recycling of “informed capital”. Due to incentive and…”
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Incomplete Wage Posting by Michelacci, Claudio, Suarez, Javier

“…We consider a directed search model in which workers differ in productivity. Productivity becomes observable to firms after assessing their workers on the job,…”
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Why so many local entrepreneurs? by Michelacci, Claudio, Silva, Olmo

“…We document that the fraction of entrepreneurs working in the region where they were born is significantly higher than the corresponding fraction for dependent…”
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