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institutions will have to start technical and professional education programs. Several new educational institutions will have to be …
Persistent link: https://www.econbiz.de/10005790093
and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … unemployment within the Phillips curve framework. Following the original problem formulation by Fisher and Phillips, the set of … study has validated the reliability and accuracy of the linear and lagged relationships between inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10011109998
negative duration dependence of exit rates from unemployment. Our model has a number of novel testable implications. For …
Persistent link: https://www.econbiz.de/10005792539
plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate shows a picture …
Persistent link: https://www.econbiz.de/10008587820
This paper explores how social capital is related with self-rated health status in Japan and how this relationship is affected by gender, using data for 3075 adult participants in the 2000 Social Policy and Social Consciousness (SPSC) survey. Controlling for endogenous bias, unobserved city...
Persistent link: https://www.econbiz.de/10004961520
unemployment – inflation space. …
Persistent link: https://www.econbiz.de/10009325625
Increasing returns are an incontrovertible fact since Adam Smith hailed them as the very originators of wealth, yet they play havoc with general equilibrium. They fit, in marked contrast, nicely into the structural axiomatic framework. This indicates that it is worthwhile to replace the...
Persistent link: https://www.econbiz.de/10009278289
Nominal price and wage rigidity renders monetary policy effective over output. However, this effectiveness extends, under widely used overlapping-wage and Calvo-contract Phillips Curves, to planned monetary policy (‘exploitability’) and not merely to policy surprises. We argue that within...
Persistent link: https://www.econbiz.de/10005662276
The New Keynesian Phillips curve explains inflation dynamics as being driven by current and expected future real marginal costs. In competitive labour markets, the labour share can serve as a proxy for the latter. In this paper, we study the role of real marginal cost components implied by...
Persistent link: https://www.econbiz.de/10005792530
Economic theory tells that a command system allocates resources poorly because of the impossibility of economic calculation. Therefore, once prices are freed and start to operate at quasi-equilibrium (market-clearing) levels, the hidden inefficiencies come into the open and a massive resource...
Persistent link: https://www.econbiz.de/10005837452