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Reassessing the NAIRUs after the Crisis
Guichard, Stéphanie; Rusticelli, Elena - Economics Department, Organisation de Coopération et … - 2011
since the late 1990s. Structural unemployment is defined as a time-varying NAIRU derived from the information contained in a … revisions in historical NAIRU estimated in 2008 after such a large labour market shock support the robustness of the OECD … la fin des années 1990. Le chômage structurel est défini comme à un NAIRU variant dans le temps et dérivé de l …
Persistent link: https://www.econbiz.de/10009394361
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Assessing the Impact of the Financial Crisis on Structural Unemployment in OECD Countries
Guichard, Stéphanie; Rusticelli, Elena - Economics Department, Organisation de Coopération et … - 2010
The global recession is likely to results in higher structural unemployment for some time in many OECD countries. This paper assesses how the shock to aggregate unemployment as a result of the economic crisis may be transmitted to structural unemployment through hysteresis effects that occur...
Persistent link: https://www.econbiz.de/10008542505
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Comparing Semi-Structural Methods to Estimate Unobserved Variables: The HPMV and Kalman Filters Approaches
Boone, Laurence - Economics Department, Organisation de Coopération et … - 2000
Economists often seek to estimate unobserved variables, representing “equilibrium” or “expected” values of economic variables, as benchmarks against which observed, realised values of these variables may be evaluated. Such comparisons are often used as economic policy indicators, for...
Persistent link: https://www.econbiz.de/10005045689
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What Drives the NAIRU? Evidence from a Panel of OECD Countries
Gianella, Christian; Koske, Isabell; Rusticelli, Elena; … - Economics Department, Organisation de Coopération et … - 2008
the unemployment benefit replacement rate also play an important role in explaining changes in the NAIRU although there is … explanation of NAIRU dynamics over the period 1978-2003, even though recent decreases are better explained than the earlier surge ….<P>Quels déterminants du NAIRU ? Évidence empirique à partir d'un panel de pays de l'OCDE<BR>Cette étude analyse les déterminants du taux de …
Persistent link: https://www.econbiz.de/10005045881
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The Concept, Policy Use and Measurement of Structural Unemployment: Estimating a Time Varying NAIRU Across 21 OECD Countries
Richardson, Pete; Boone, Laurence; Giorno, Claude; … - Economics Department, Organisation de Coopération et … - 2000
The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of … representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU … applied ...<BR><P>Les concepts de taux de chômage structurel et NAIRU (<I>non accelerating inflation rate of unemployment …
Persistent link: https://www.econbiz.de/10005046182
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Policies to support sustainable long-term growth in New Zealand
Cheung, Calista - Economics Department, Organisation de Coopération et … - 2013
As its workforce ages and major economies shift towards producing higher value-added goods and services, New Zealand will face increasing challenges to remain globally competitive and maintain high living standards. Future growth will need to come increasingly from productivity gains, and...
Persistent link: https://www.econbiz.de/10011276855
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Implications of Output Gap Uncertainty in Times of Crisis
Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - Economics Department, Organisation de Coopération et … - 2012
This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it...
Persistent link: https://www.econbiz.de/10011276902
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Getting Back on Track: Restoring Fiscal Sustainability in Ireland
Haugh, David - Economics Department, Organisation de Coopération et … - 2011
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...
Persistent link: https://www.econbiz.de/10009364451
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The Short-Term Effects of Structural Reforms: An Empirical Analysis
Bouis, Romain; Causa, Orsetta; Demmou, Lilas; Duval, Romain - Economics Department, Organisation de Coopération et … - 2012
Drawing on new empirical analysis of 30 years of structural reforms across the OECD, this paper sheds light on the impact of reforms over time, identifies the horizon over which their full effects materialise, and investigates whether such effects vary with prevailing economic conditions and...
Persistent link: https://www.econbiz.de/10011007419
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Short-Term Gain or Pain? A DSGE Model-Based Analysis of the Short-Term Effects of Structural Reforms in Labour and Product Markets
Cacciatore, Matteo; Duval, Romain; Fiori, Giuseppe - Economics Department, Organisation de Coopération et … - 2012
This paper explores the short-term effects of labour and product market reforms through a dynamic general equilibrium model that features endogenous producer entry, equilibrium unemployment and costly job creation and destruction. Unlike in existing work, the link between labour and product...
Persistent link: https://www.econbiz.de/10011007421