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| Author | : Jon Shields |
| Publisher | : Springer |
| Total Pages | : 271 |
| Release | : 1989-09-01 |
| Genre | : Business & Economics |
| ISBN | : 1349201731 |
A companion text to "Making the Economy Work", this covers aspects of the Employment Institute's published output in its first three years. Based on items produced by the Institute, it explains why alternative action to "monetarism" could have avoided the rise in unemployment in the early 1980s.
| Author | : Pierpaolo Benigno |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2010-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1455209597 |
We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based on U.S. time series and on an international panel strongly supports these predictions. The empirical specifications featuring the variance of productivity growth can account for two U.S. episodes which a linear model based only on long-run productivity growth cannot fully explain. These are the decline in long-run unemployment over the 1980s and its rise during the late 2000s.
| Author | : Neri Salvadori |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 344 |
| Release | : 2005-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781845428167 |
This book will appeal to upper level students, scholars and researchers of economics and economic growth as well as those more specifically involved in labour, microeconomics and the history of economic thought.
| Author | : Linda Levine |
| Publisher | : DIANE Publishing |
| Total Pages | : 11 |
| Release | : 2010-11 |
| Genre | : Business & Economics |
| ISBN | : 1437939163 |
Although the economy has begun growing again, it may be a while before the unemployment rate shows steady improvement. The unemployment rate is considered a lagging indicator, meaning that its ups and downs happen some time after the ups and downs of other indicators of economic activity. For example, more than a year elapsed before the unemployment rate trended downward following the end of the 1990-1991 and 2001 recessions. This led the two to be labeled jobless recoveries. By contrast, after four earlier recessions the unemployment rate began a sustained decline within four to five months. This report examines the relationship between economic growth and the unemployment rate to anticipate possible future developments.
| Author | : Sangyup Choi |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2015-02-23 |
| Genre | : Business & Economics |
| ISBN | : 1498356303 |
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.
| Author | : Mr.Bob Rowthorn |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 1999-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451846304 |
This paper discusses the influence of economic growth on the equilibrium unemployment rate (NAIRU). It examines how income distribution and the NAIRU are influenced by capital formation, technical progress, and labor force expansion, and how these factors’ impact depends on the elasticity of substitution between capital and labor. The paper distinguishes between the short-run NAIRU when capital stock is exogenous, and the long-run NAIRU when it is endogenous. It also considers how the analysis must be modified to take into account Keynesian ideas concerning the role of aggregate demand. It concludes that unless the capital stock grows in line with labor supply in efficiency units, the short-run NAIRU will increase, reducing the scope for demand stimulation.
| Author | : Willi Semmler |
| Publisher | : |
| Total Pages | : 30 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Okun's (1962) seminal paper is an important study on economic growth and unemployment but a detailed exploration of the effect of productivity growth on unemployment has been left aside. Yet, the relationship between productivity growth and unemployment has been debated since long. In this paper we present stylized facts on the link between productivity growth and unemployment for the short and long run, and present model variants that demonstrate that in the short run productivity growth can have a negative effect on employment - or may even increase unemployment - while in the long run the relationship between productivity growth and employment are likely to co-vary positively. Using US data, empirically we decompose the time series of unemployment rate and productivity growth into long run and short run components and show empirical evidence that the long run and short run components co-vary as predicted by some theories.
| Author | : K. G. Knight |
| Publisher | : Rowman & Littlefield |
| Total Pages | : 444 |
| Release | : 1986 |
| Genre | : Business & Economics |
| ISBN | : 9780389206613 |
Unemployment is currently the major economic concern in developed countries. This book provides a thorough analysis of the theoretical and empirical aspects of the economics of unemployment in developed countries. It emphasizes the multicausal nature of unemployment and offers a variety of approaches for coping with the problem. Contents: Unemployment: Costs and Measurement; Stocks, Flows, Duration and the Incidence of Unemployment; Search, Unemployment and Unfilled Vacancies; Macroeconomics of Unemployment: The Classical Approach; Macroeconomics of Unemployment: The Non-Market Clearing Approach; Non-Natural Unemployment: The Empirical Evidence; The Natural Rate of Unemployment: The Supply Side; The Natural Rate of Unemployment: The Demand Side; Unemployment: Policy and Prospects; Bibliography^
| Author | : M. Zagler |
| Publisher | : Springer |
| Total Pages | : 241 |
| Release | : 2004-05-12 |
| Genre | : Business & Economics |
| ISBN | : 0230506321 |
Zagler investigates the interaction between changes in the level of unemployment and changes in the economic rate of growth. It asks, both in theory and in evidence, whether a change in the growth rate of the economy will affect the level of unemployment which the economy experiences and whether a decline in the level of unemployment will foster or deteriorate the growth performance of the economy.
