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interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states – employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …
Persistent link: https://www.econbiz.de/10013051614
analyze transitions of workers between unemployment, regular employment and employment accompanied by welfare receipt. Working …
Persistent link: https://www.econbiz.de/10012984507
In this paper, we investigate two fiscal policy options to mitigate fiscal pressure arising from ageing of the Australian population: pension cuts or tax hikes. Using a computable overlapping generations model, we find that while both policy options achieve the same fiscal goal, the...
Persistent link: https://www.econbiz.de/10013001109
surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian …
Persistent link: https://www.econbiz.de/10012753184
(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … national business cycles which, in turn, leads to higher unemployment risk. In order to counter-balance this effect, trade … unions lower their claims for wage mark-ups resulting in lower wage growth and lower unemployment. This paper uses …
Persistent link: https://www.econbiz.de/10013093430
While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and moved into fiscal territory. This text describes and summarises the crucial role played by the ECB in the intervention spiral resulting from its bid to manage the crisis. It also...
Persistent link: https://www.econbiz.de/10012916355
taxation but suffers only part of the costs of union-wide inflation and higher interest rates, creating a tendency towards …
Persistent link: https://www.econbiz.de/10012996333
' inflation aversion and exit costs …
Persistent link: https://www.econbiz.de/10013025966
parameter combinations our results confirm the findings of Beetsma et al. (2001) that for symmetric inflation and output gap … central bank and the coalition of national governments is most intense under a symmetric inflation shocks when there is strong … conflict concerning the orientation of stabilisation policies. This conflict is less pronounced under an asymmetric inflation …
Persistent link: https://www.econbiz.de/10012753234
, average inflation and output distortions. However, as more members enter the monetary union, the fiscal disciplining effect of …
Persistent link: https://www.econbiz.de/10012753473