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We present a comprehensive macroeconomic model for the U.S. There exist strict long-term relations between real GDP, price inflation, labor force participation, productivity, and unemployment. The evolution of real GDP depends only on exogenous demographic forces. Other macro-variables follow up...
Persistent link: https://www.econbiz.de/10005260315
This paper examines the critical linkages between macro, sectoral and labour market policies and employment in the …
Persistent link: https://www.econbiz.de/10011111098
, suggested a massive prevalence of underemployment in rural areas, particularly among females. The creation of employment … addition, to encourage the promising sectors, such as fisheries and tourism, the employment situation requires development of …
Persistent link: https://www.econbiz.de/10011109068
Employment is linked to growth at least in the long-run. Thus, to reduce structurally unemployment it is necessary to … intensity of the links between economic growth and (un)employment in Morocco. Okun’s law provides evidence that economic growth … sectors were net losers of jobs. The overall growth-elasticity of employment is positive but low. …
Persistent link: https://www.econbiz.de/10011112042
This paper structurally models and estimates the employment effects of minimum wages in inflexible labor markets with … fixed employment costs. When there are fixed costs associated with employment, minimum wage regulation not only results in a … reduction in employment among low productivity workers but also shifts the distribution of hours for the available jobs in the …
Persistent link: https://www.econbiz.de/10005079318
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework. The change in labour force is the driving force representing economic activity in the Phillips curve. For Austria, this macroeconomic variable was first tested as a predictor of...
Persistent link: https://www.econbiz.de/10011110150
This paper describes the key features of the Moroccan business cycles during the period 1980:q1-2012:q1. In particular, this paper identifies the chronologies in classical and growth cycles (expansion and contraction phases and full cycles in real gross domestic product). Using the modified BB...
Persistent link: https://www.econbiz.de/10011112049
This is a prepublication version of an article which appeared in the World Review of Political Economy. Please cite as Desai, R. and A. Freeman. 2001. ‘Value and Crisis Theory in the “Great Recession”’. World Review of Political Economy. Vol 2 No. 1, Spring 2011. Pp 35-47. This article...
Persistent link: https://www.econbiz.de/10011258893
Savings are allocated over the acquisition of assets like homes, shares and bonds and government debt paper. For a home acquisition an individual household uses own equity provided by the buyer and outside equity provided by banks. Such outside equity can help to increase the volume of new...
Persistent link: https://www.econbiz.de/10011259860
We estimate a two-sector DSGE model with financial intermediaries—a-la Gertler and Karadi 2011) and Gertler and Kiyotaki (2010)—and quantify the importance of financial shocks in accounting for aggregate and sectoral fluctuations. Our results indicate a significant role of financial market...
Persistent link: https://www.econbiz.de/10011260055