Download or read book Monetary Politics and Unemployment Persistence written by Gunnar Jonsson and published by . This book was released on 1995 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Persistence and the Feasibility of a Monetary Union written by Enrique Alberola Ila and published by . This book was released on 1997 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book MONETARY POLICY AND UNEMPLOYMENT PERSISTENCE written by Gunnar JONSSON and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An explanation of unemployment persistence written by Paromita Guha and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Persistence of Unemployment Under a Fixed Exchange Rate Peg written by Olivier Jeanne and published by . This book was released on 1997 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Persistence Central Bank Independence and Inflation Performance in the OECD Countries written by Enrique Alberola Ila and published by . This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finds that there is a strong correlation between persistent unemployment and central bank independence.
Download or read book Unemployment Persistence and Capital Shortage written by Mr.Benedikt Braumann and published by International Monetary Fund. This book was released on 1997-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment in Trinidad and Tobago during the last twenty years. Although real wages are 60 percent lower today than in the mid-1980s, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the decline of capital stock in this country after years of very low savings and investment. Policies to address this capital shortage are discussed.
Download or read book Crises Labor Market Policy and Unemployment written by Mr.Lorenzo E. Bernal-Verdugo and published by International Monetary Fund. This book was released on 2012-03-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of financial crises is less pronounced but more persistent in countries with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor market policies have a positive impact on unemployment, albeit only in the medium term.
Download or read book Unemployment Persistence and the Unemployment productivity Relation written by Dennis J. Snower and published by . This book was released on 1994 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Persistence and Insider outsider Forces in Wage Determination written by Bertil Holmlund and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Labor Force Participation and Monetary Policy in the Wake of the Great Recession written by Christopher J. Erceg and published by International Monetary Fund. This book was released on 2013-12-16 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal times” (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.
Download or read book Economic Policies and Unemployment Dynamics in Europe written by Mr.Dennis J. Snower and published by International Monetary Fund. This book was released on 1997-01-28 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by S.G.B. Henry and Dennis J. Snower, examines the high unemployment that has plagued five European countries- France, Germany, Italy, Spain, and the United Kingdom- for more than a decade. Its methodology focuses on the mechanisms that prevent employers and employees from adjusting promptly to changing market opportunities. Chief among these mechanisms are outdated economic structures, the power of labor unions, rising nonwage labor costs, and the disparity between unemployed workers and available jobs. Although cross-country differences indicate that there is no common cause for joblessness in Europe, the book discusses a unique characteristic of the European labor market- that unemployment not only rises during recessions, but does not fall when economic weaknesses are overcome.
Download or read book Amerisclerosis written by Olivier Coibion and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations for this rising persistence. First, we argue that financial shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving unemployment persistence. Therefore, we turn to a third class of explanations: propagation mechanisms. We focus on factors consistent with four other cyclical patterns which have evolved since the early 1980s: a rising cyclicality in long-term unemployment, lower regional convergence after downturns, rising cyclicality in disability claims, and missing disinflation. These factors include declining labor mobility, changing age structures, and the decline in trust among Americans. To determine how these factors affect unemployment persistence, this paper exploits regional variation in labor market outcomes across Western Europe and North America during 1970-1990, in contrast to most previous work focusing either on cross-country variation or regional variation within countries. The results suggest that only cultural factors can account for the rising persistence of unemployment in the U.S., but the evolution in mobility and demographics over time should have more than offset the effects of culture.
Download or read book Government Employment and Wages and Labor Market Performance written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1999-04-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government wage, benefit, and employment decisions are not taken on a profit-maximizing basis and have a substantial impact on aggregate labor market performance and unemployment. In a two-sector labor market model with free mobility of labor, an increase in government wages or benefits reduces private sector employment, and government employment is not an effective counter-cyclical instrument. Empirical tests for Greece confirm that the expansion of the public sector in the 1980s contributed to the deterioration of labor market performance.
Download or read book Amerisclerosis written by Olivier Coibion and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations for this rising persistence. First, we argue that financial shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving unemployment persistence. Therefore, we turn to a third class of explanations: propagation mechanisms. We focus on factors consistent with four other cyclical patterns which have evolved since the early 1980s: a rising cyclicality in long-term unemployment, lower regional convergence after downturns, rising cyclicality in disability claims, and missing disinflation. These factors include declining labor mobility, changing age structures, and the decline in trust among Americans. To determine how these factors affect unemployment persistence, this paper exploits regional variation in labor market outcomes across Western Europe and North America during 1970-1990, in contrast to most previous work focusing either on cross-country variation or regional variation within countries. The results suggest that only cultural factors can account for the rising persistence of unemployment in the U.S., but the evolution in mobility and demographics over time should have more than offset the effects of culture.
Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
Download or read book The Clash of Central Bankers with Labour Market Insiders and the Persistence of Inflation and Unemployment written by George S. Alogoskoufis and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the implications of monetary policy for the dynamic behaviour of inflation, in a 'natural' rate model characterized by endogenous unemployment persistence. We present evidence for the main industrial economies that suggests that inflation displays persistence which is of the same order of magnitude as the persistence of deviations of unemployment from its 'natural' rate. We provide a theoretical explanation of this fact based on a model of the dynamic interactions between central bankers and labour market insiders. The clash in the objectives of central bankers and labour market insiders is what causes both inflation and unemployment to display the same persistence in this model. The analysis suggests that inflation persistence could be addressed in a welfare-improving way, if central banks adopted monetary policy rules that targeted unanticipated changes in unemployment rates instead of deviations of unemployment from its 'natural' rate.
