Showing 1 - 10 of 15
A simple plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate …-integration of wage rate changes and unemployment rate is not the argument that could be drawn on to sustain this scepticism. On the … separated components support Phillips’ hypothesis of a negative relationship between wage rate changes and the unemployment rate. …
Persistent link: https://www.econbiz.de/10008693556
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
The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is a major concept in (monetary) economics in predicting … changes in the inflation rate. As the inflation neutral unemployment rate is an unobserved and, in the long run, a changing … changes in the unemployment rate or the labor productivity are necessary to forecast changes in the inflation rate accurately …
Persistent link: https://www.econbiz.de/10008685371
This paper aims at providing a critical assessment of the new ‘Farmerian’ economics, i.e. the recent Farmer’s attempt to provide a new micro-foundation of the General Theory grounded on modern search and business cycle theories. Specifically, I develop a theoretical model that summarizes...
Persistent link: https://www.econbiz.de/10009021709
the social elasticity of the matching function with respect to unemployment. …
Persistent link: https://www.econbiz.de/10011157018
In this paper, we implement Bayesian econometric techniques to analyze a theoretical framework built along the lines of Farmer's micro-foundation of the General Theory. Specifically, we test the ability of a demand-driven search model with self-fulfilling expectations to match the behaviour of...
Persistent link: https://www.econbiz.de/10011109526
This paper introduces a model of efficiency-wage competition along the lines put forward by Hahn (1987). Specifically, I analyse a two-firm economy in which employers screen their workforce by means of increasing wage offers competing one another for high-quality employees. The main results are...
Persistent link: https://www.econbiz.de/10011109551
Profit as rent: Some remarks about a pro-capitalist theory of development This study discusses several of the economic cornerstones of the contribution made by Hartmut Elsenhans to the so-called Global Keynesianism. Included are his unique definition of profits and rents; the thesis of net...
Persistent link: https://www.econbiz.de/10011110240
In this paper, we explore the fluctuations of unemployment and vacancies in the Italian labour market over the last … line with previous findings on the unemployment volatility puzzle, we find that the labour market tightness indicator is …
Persistent link: https://www.econbiz.de/10011111175
Mass consumption and underdevelopment in the „Third World“? Some remarks about the political economic theses of Hartmut Elsenhans The author‘s main thesis is that rising mass income is a precondition of capitalist growth. Without making any differences, he claims in the same article that...
Persistent link: https://www.econbiz.de/10011112816