Download or read book Unemployment Hysteresis Wage Determination and Labor Market Flexibility written by International Monetary Fund and published by International Monetary Fund. This book was released on 1994-12-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a negative impact on wages; and (ii) there is some evidence that the incumbent workers, the “insiders,” exercise market power in wage determination, taking greater account of their own interests than those of the unemployed “outsiders.” In addition, it is argued that the automatic indexation of wages to prices in Belgium can cause a downward rigidity in real wages, given the multi-tier real wage bargaining process. Recent initiatives, including the introduction of a competitiveness norm for indexation, and labor market programs aimed at the long-term unemployed and the young, such as the plan d’accompagnement and the plan d’embauche des jeunes, are appropriate in view of the existence of insider power in wage determination.
Download or read book Unemployment Hysteresis Wage Mination and Labor Market Flexibility the Case of Belgium written by R. Moghadam and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Hysteresis Wage Determination and Labor Market Flexibility the Case of Belgium written by Reza Moghadam and published by . This book was released on 1994 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Hysteresis Wage Determination and Labor Market Flexibility written by Reza Moghadam and published by . This book was released on 2006 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a negative impact on wages; and (ii) there is some evidence that the incumbent workers, the quot;insiders,quot; exercise market power in wage determination, taking greater account of their own interests than those of the unemployed quot;outsiders.quot; In addition, it is argued that the automatic indexation of wages to prices in Belgium can cause a downward rigidity in real wages, given the multi-tier real wage bargaining process. Recent initiatives, including the introduction of a competitiveness norm for indexation, and labor market programs aimed at the long-term unemployed and the young, such as the plan d`accompagnement and the plan d`embauche des jeunes, are appropriate in view of the existence of insider power in wage determination.
Download or read book Unemployment Hysteresis Wage Determination and Labor Market Flexibility the Vase of Belgium written by Reza Moghadam and published by . This book was released on 1994 with total page 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 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 Explaining High Unemployment in ECCU Countries written by Ronald James and published by International Monetary Fund. This book was released on 2019-07-11 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates several factors that could explain them, finding that high unit labor costs, in a context of strong unionization, are significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also suggests that high-paid jobs in the public and tourism sectors, which have been growing considerably in recent decades, could have increased the reservation wage and lowered labor force participation. We find no indication that high structural unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected, unemployment has been substantially, but only temporarily fueled by large natural disasters.
Download or read book IMF Working Papers and Papers on Policy Analysis and Assessment written by and published by . This book was released on 1986-10 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Wage Curve written by David G. Blanchflower and published by MIT Press. This book was released on 1994 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.
Download or read book Short Time Working Arrangements as Response to Cyclical Fluctuations written by Alfonso Arpaia and published by . This book was released on 2010 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews and discusses the main characteristics of short-time schemes available in the EU. Highlights the risk that a prolonged use of short-time work supports the demand of declining sectors, eventually delaying their restructuring, especially when the costs of labour reallocation are low and the incentives to restructure high, because the opportunity costs of foregone output is lower in recessions than in booms.
Download or read book The Causes and Consequences of Long term Unemployment in Europe written by Stephen Machin and published by . This book was released on 1998 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Labour Market Flexibility written by and published by . This book was released on 1991 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses five major topics: the meaning of the term "flexibility", the various forms which it takes in practice, its short-and long-term implications, the diverse forms it may assume in different national contexts, and finally its effectiveness as an instrument of economic and employment policy
Download or read book Unemployment in Ireland written by Julio A. Santaella and published by International Monetary Fund. This book was released on 1995-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the problem of unemployment in Ireland. A brief description of the main distinctive features of the structure of Irish unemployment is presented. Based on up to date literature, the possible causes behind unemployment are reviewed. Empirical studies that have quantified the contributions of different determinants to the increase in Irish unemployment are also surveyed. The paper concludes with some policy suggestions.
Download or read book Are the Unemployed Unemployable written by Gilles Saint-Paul and published by International Monetary Fund. This book was released on 1994-06-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a matching model of the labor market under wage rigidity when hiring decisions are irreversible. There are two types of workers, the skilled and the unskilled. The model is used to analyze whether technological advances may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the productivity and/or the supply of skilled workers relative to unskilled workers. These effects are stronger when hiring decisions are more irreversible.
Download or read book Global Economic Prospects June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Download or read book Unions and Collective Bargaining written by Toke Aidt and published by Directions in Development. This book was released on 2002 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an extensive survey and synthesis of the economic literature on trade unions and collective bargaining and their impact on micro-and macro-economic outcomes. The authors demonstrate the effects of collective bargaining in different country settings and time periods. A comprehensive reference, this book will be of interest to students and scholars of labor policy as well as to policy makers and anyone with an interest in the economic consequences of unionism.
