Download or read book Unemployment Hysteresis in the Us States and the EU written by Miguel A. Leon-Ledesma and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper applies the panel unit root test proposed by Im, Pesaran and Shin (1997) to test for unemployment hysteresis in the US states and the EU countries against the alternative of a natural rate. The results show that hysteresis for the EU and the natural rate for the US states are the most plausible hypotheses.
Download or read book Unemployment Hysteresis in the US and the EU written by Miguel A. León-Ledesma and published by . This book was released on 2000 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Hysteresis in the US and the EU written by Miguel A. León-Ledesma and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Download or read book NBER Macroeconomics Annual 1986 written by and published by . This book was released on 1986 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hysteresis and the European Unemployment Problem written by Olivier J. Blanchard and published by . This book was released on 1986 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hysteresis and Persistence in the Course of Unemployment The EU and US Experience written by Christian Dreger and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hysteresis in Unemployment written by Frank M. Song and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies using standard unit-root tests generally cannot reject the hypothesis of a unit root in unemployment rates. These findings have been interpreted as supporting the hysteresis hypothesis. We demonstrate that the failure to reject the null may be due to the low power of the tests. We analyze unemployment rates of 48 U.S. contiguous states using a more powerful panel-based test which exploits cross-section restrictions on the constituent series. The critical values are simulated tailored to our sample size. We reject the null decisively, casting some doubt on the hysteresis hypothesis for the United States.
Download or read book Hysteresis and the European Unemployment Problem Revisited written by Jordi Galí and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some shocks have permanent effects on that variable. I explore possible sources of this nonstationarity through the lens of a New Keynesian model with unemployment, and assess their empirical relevance.
Download or read book Unemployment Hysteresis Structural Changes Non linearities and Fractional Integration in European Transition Economies written by Juan Carlos Cuestas and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Path Dependency and Macroeconomics written by P. Arestis and published by Springer. This book was released on 2009-10-09 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume examines how path dependency is linked with notions of fundamental uncertainty, non-ergodicity and hysteresis.
Download or read book Place based Economic Development and the New EU Cohesion Policy written by Philip McCann and published by Routledge. This book was released on 2018-02-02 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new EU Cohesion Policy is one of the largest integrated development policies in the Western world, and one of the largest of such programmes anywhere in the world. The reforms to the EU Cohesion Policy contain many different elements each of which interlink in order to provide a cohesive overall framework. Some of the key elements in the reforms, however, relate to the conditionalities employed and their effects on policy governance and the control mechanism, the smart specialization approach to policy prioritization and resource allocation, the underlying place-based logic of the policy, and the overall results orientation and evaluation emphasis of the policy. In each of the areas of the EU Cohesion Policy reforms, many different scholars from the fields of regional studies, regional science and economic geography have played important roles in shaping the new policy, and the chapters here highlight these increasing interactions between the policy and academic spheres of debate. The collection of essays in this book each deal with specific aspects of these critical elements of the Cohesion Policy reforms. In particular, they examine some of the strengths and weaknesses of these individual elements and allowing for a better understanding of the origins and backgrounds of many of the ideas underpinning these reforms. This book was previously published as a special issue of Regional Studies.
Download or read book TURKISH ECONOMIC ASSOCIATION INTERNATIONAL CONFERENCE ON ECONOMICS ICE TEA 2018 written by Ercan Uygur and published by Türkiye Ekonomi Kurumu. This book was released on 2018-12-31 with total page 2118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Explaining Unemployment in Spain written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 1994-09-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
Download or read book Crime and Society written by Donna Youngs and published by Routledge. This book was released on 2019-07-09 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of a society’s resources are devoted to dealing with, or preparing for the possibility of, crime. The dominance of concerns about crime also hint at the broader implications that offending has for many different facets of society. They suggest that rather than being an outlawed subset of social activity, crime is an integrated aspect of societal processes. This book reviews some of the direct and indirect social impacts of criminality, proposing that this is worthwhile, not just in terms of understanding crime, but also because of how it elucidates more general social considerations. A range of studies that examine the interactions between crime and society are brought together, drawing on a wide range of countries and cultures including India, Israel, Nigeria, Turkey, and the USA, as well as the UK and Ireland. They include contributions from many different social science disciplines, which, taken together, demonstrate that the implicit and direct impact of crime is very widespread indeed. The chapters in this book were originally published as a special issue of Contemporary Social Science.
Download or read book The ECB written by David K. H. Begg and published by Centre for Economic Policy Research. This book was released on 1998 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report includes a detailed analysis of the European Central Bank's actions and will alert the public to the main issues raised by the policies pursued by the ECB during the previous year.
Download or read book Inflation and Activity Two Explorations and their Monetary Policy Implications written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2015-11-06 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
