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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
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Global Aging Pressures; Impact of Fiscal Adjustment, Policy Cooperation, and Structural Reforms
Kumar, Manmohan S.; Botman, Dennis P. J. - International Monetary Fund (IMF) - 2007
Demographic pressures will materialize in many economies over the next few decades. We examine the macroeconomic impact of alternative fiscal adjustment and structural reform strategies to address these global aging pressures using the IMF's Global Fiscal Model (GFM). The results suggest...
Persistent link: https://www.econbiz.de/10005769258