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Physical Capital Adjustment within Spain; Long-Run and Short-Run Analysis

Spilimbergo, Antonio; Mauro, Paolo - International Monetary Fund (IMF) - 2001

This paper considers the adjustment of physical capital within a country in the long run and in the short run. It uses a unique data set on income, labor, human capital, and private and public physical capital in the Spanish regions over the past two decades. In the long run, the movement of...

Persistent link: https://www.econbiz.de/10005263773

Equilibrium Wage Dispersion; An Example

International Monetary Fund (IMF); International … - 2006

combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on …

Persistent link: https://www.econbiz.de/10005263884

The Shortcomings of a Partial Release of Employment Protection Laws; The Case of the 2005 French Reform

Cahuc, Pierre; Carcillo, Stéphane - International Monetary Fund (IMF) - 2006

, we simulate the effects of this reform on unemployment, employment, and welfare. We estimate that the CNE will lead to …

Persistent link: https://www.econbiz.de/10005263994

Regional Convergence and the Role of Federal Transfers in Canada

Swagel, Phillip; Dunaway, Steven Vincent; Kaufman, … - International Monetary Fund (IMF) - 2003

Differences in per capita output across Canadian provinces have narrowed less than disparities in per capita income in past decades. Using a panel regression framework, this paper studies the differential impact of federal transfer programs on output convergence. The evidence suggests that while...

Persistent link: https://www.econbiz.de/10005264150

A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic

Benes, Jaromir; Papa M'B. P. N'Diaye - International Monetary Fund (IMF) - 2004

non accelerating inflation rate of unemployment (NAIRU) improves on univariate methods as the Hodrick-Prescott (HP) filter. …

Persistent link: https://www.econbiz.de/10005264226

Precautionary Savings in the Great Recession

Mody, Ashoka; Sandri, Damiano; Ohnsorge, Franziska - International Monetary Fund (IMF) - 2012

Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a panel of advanced economies that greater labor income...

Persistent link: https://www.econbiz.de/10009654146

Can Institutional Reform Reduce Job Destruction and Unemployment Duration? Yes it Can

International Monetary Fund (IMF); International … - 2012

We read search theory's unemployment equilibrium condition as an Iso-Unemployment Curve(IUC).The IUC is the locus of … job destruction rates and expected unemployment durations rendering the same unemployment level. A country's position … unemployment level at which such preferences are satisfied Using a panel of 20 OECD countries over 1985-2008, we find employment …

Persistent link: https://www.econbiz.de/10009654152

Employment Protection and Business Cycles in Emerging Economies

Lama, Ruy; Urrutia, Carlos - International Monetary Fund (IMF) - 2011

We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment protection in shaping business cycles in emerging economies. The model features matching frictions and an endogenous selection effect by which inefficient jobs are destroyed in...

Persistent link: https://www.econbiz.de/10009401199

Unemployment and Productivity in the Long Run; The Role of Macroeconomic Volatility

Surico, Paolo; Ricci, Luca Antonio; Benigno, Pierpaolo - International Monetary Fund (IMF) - 2010

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory … generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise …-run unemployment over the 1980s and its rise during the late 2000s. …

Persistent link: https://www.econbiz.de/10008727811

Danish for All? Balancing Flexibility with Security; The Flexicurity Model

Zhou, Jian-Ping - International Monetary Fund (IMF) - 2007

labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …

Persistent link: https://www.econbiz.de/10005825613