Output And Employment Fluctuations
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Author | : Klaus F. Zimmermann |
Publisher | : Springer Science & Business Media |
Total Pages | : 250 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642579892 |
This book consists of four parts: I. Labour demand and supply, II. Productivity slowdown and innovative activity, III. Disequilibrium and business cycle analysis, and IV. Time series analysis of output and employment. It presents a fine selection of articles in the growing field ofthe empirical analysis of output and employment fluctuations with applications in a micro-econometric or a time-series framework. The time-series literature recently has emphasized the careful testing for stationarity and nonlinearity in the data, and the importance of cointegration theory. An essential part of the papers make use of parametric and non-parametric methods developed in this literature and mostly connect their results to the hysteresis discussion about the existence of fragile equilibria. A second set of macro approaches use the disequilibrium framework that has found so much interest in Europe in recent years. The other papers use newly developed methods for microdata,especially qualitative data or limited dependent variables to study microeconomic models of behaviour that explain labour market and output decisions.
Author | : Klaus F. Zimmermann |
Publisher | : Springer |
Total Pages | : 258 |
Release | : 1994 |
Genre | : Industrial productivity |
ISBN | : 9780387914787 |
Author | : Klaus F. Zimmermann |
Publisher | : |
Total Pages | : 252 |
Release | : 1992 |
Genre | : |
ISBN | : |
Author | : John Maynard Keynes |
Publisher | : Springer |
Total Pages | : 430 |
Release | : 2018-07-20 |
Genre | : Business & Economics |
ISBN | : 3319703447 |
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author | : Zvi Hercowitz |
Publisher | : |
Total Pages | : 31 |
Release | : 1988 |
Genre | : |
ISBN | : |
Author | : John Maynard Keynes |
Publisher | : |
Total Pages | : 0 |
Release | : 1989 |
Genre | : |
ISBN | : |
Author | : Zvi Hercowitz |
Publisher | : |
Total Pages | : 62 |
Release | : 1988 |
Genre | : Business cycles |
ISBN | : |
Author | : Dale Mortensen |
Publisher | : |
Total Pages | : 84 |
Release | : 1999 |
Genre | : Economics |
ISBN | : |
Author | : Zvi Hercowitz |
Publisher | : |
Total Pages | : 41 |
Release | : 1989 |
Genre | : |
ISBN | : |
Author | : Robert E. Hall |
Publisher | : |
Total Pages | : 60 |
Release | : 1998 |
Genre | : Labor market |
ISBN | : |
The labor market occupies center stage in modern theories of fluctuations. The most important phenomenon to explain and understand in a recession is the sharp decline in employment and jump in unemployment. This chapter for the Handbook of Macroeconomics considers explanations based on frictions in the labor market. Earlier research within the real business cycle paradigm considered frictionless labor markets where fluctuations in the volume of work effort represented substitution by households between work in the market and activities at home. A preliminary section of the chapter discusses why frictionless models are incomplete they fail to account for either the magnitude or persistence of fluctuations in employment. And the frictionless models fail completely to describe unemployment. The evidence suggests strongly that consideration of unemployment as a third use of time is critical for a realistic model. The two elements of a theory of unemployment are a mechanism for workers to lose or leave their jobs and an explanation for the time required for them to find new jobs. Theories of mechanism design or of continuous re-bargaining of employment terms provide the first. The theory of job search together with efficiency wages and related issues provides the second. Modern macro models incorporating these features come much closer than their predecessors to realistic and rigorous explanations of the magnitude and persistence of fluctuations.