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Evaluating Unemployment Policies : What Do the Underlying Theories Tell Us?

Snower, Dennis J. - 2006

The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions … of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy …--on the theories` ability to predict some salient stylized facts about unemployment behavior. The paper considers four types …

Persistent link: https://www.econbiz.de/10012781938

More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies

Hong, Gee Hee - 2018

-time employment appears to have weakened wage growth even in economies where headline unemployment rates are now at, or below, their …

Persistent link: https://www.econbiz.de/10012907938

Dismal Employment Growth in EU Countries : The Role of Corporate Balance Sheet Repair and Dual Labor Markets

Bakker, Bas Berend - 2013

This paper argues that the large differences among EU countries in post-crisis employment performance are to a large extent driven by the need to adjust corporate balance sheets, which had greatly deteriorated during the boom years in some countries but not in others. To close the large gaps...

Persistent link: https://www.econbiz.de/10013076321

The Minimum Wage Puzzle in Less Developed Countries : Reconciling Theory and Evidence

Adam, Christopher - 2020

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding stylized facts associated with minimum wage laws in less developed countries

Persistent link: https://www.econbiz.de/10012840605

Labor Market Dynamics : A Hidden Markov Approach

Shibata, Ippei - 2020

This paper proposes a hidden state Markov model (HMM) that incorporates workers' unobserved labor market attachment into the analysis of labor market dynamics. Unlike previous literature, which typically assumes that a worker's observed labor force status follows a first-order Markov process,...

Persistent link: https://www.econbiz.de/10012843312

The Low-Skill, Bad-Job Trap

Snower, Dennis J. - 2008

The paper explains how a country can fall into a quot;low-skill, bad-job trap,quot; in which workers acquire insufficient training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large proportion of the workforce is unskilled, firms...

Persistent link: https://www.econbiz.de/10012774282

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

Sarr, Babacar - 2019

unemployment by about 2.2 pp after five years. If sequencing is required, starting with PMRs would be more effective in boosting … output, while starting with LMRs would reduce unemployment faster. Finally, increasing unemployment benefits would be more …

Persistent link: https://www.econbiz.de/10012858957

Output Gap in Presence of Financial Frictions and Monetary Policy Trade-Offs

Furlanetto, Francesco - 2014

The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure...

Persistent link: https://www.econbiz.de/10013049145

When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies

Bordon, Anna R. - 2016

Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a...

Persistent link: https://www.econbiz.de/10012993724

Welfare vs. Income Convergence and Environmental Externalities

Bannister, Geoffrey J. - 2018

We present estimates of welfare by country for 2007 and 2014 using the methodology of Jones and Klenow (2016) which incorporates consumption, leisure, mortality and in equality, and we extend the methodology to include environmental externalities. During the period of the global financial crisis...

Persistent link: https://www.econbiz.de/10012929937