Showing 1 - 10 of 941
The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the monetary overinvestment theories of Hayek and Mises. We argue that ultra-loose monetary policies create incentives to substitute real investment by financial investment. When...
Persistent link: https://www.econbiz.de/10012996802
This paper finds a link between the sharp drop in U.S. manufacturing employment beginning in 2001 and a change in U ….S. trade policy that eliminated potential tariff increases on Chinese imports. Industries where the threat of tariff hikes … declines the most experience more severe employment losses along with larger increases in the value of imports from China and …
Persistent link: https://www.econbiz.de/10010734330
We investigate empirically the effect of government purchases on unemployment in 20 OECD countries, for the period 1960 …-2007. Compared to earlier studies we use a data set with more variation in unemployment, and which allows for controlling for a host … unemployment; an increase equal to one percent of GDP reduces unemployment by 0.2 percentage point in the same year. The effect is …
Persistent link: https://www.econbiz.de/10013124098
a highly indebted open economy. In contrast to the standard open economy framework, search unemployment and wage … intertemporal welfare gain, even though unemployment increases strongly in the short run. A 50% haircut of foreign debt … significantly reduces the initial response of the unemployment rate. In case of a temporary productivity shock, sticky wages imply …
Persistent link: https://www.econbiz.de/10013123217
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using … is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are … interrelated i.e. bidirectional causality. Feedback hypothesis is validated between trade openness and financial development …
Persistent link: https://www.econbiz.de/10011165503
We investigate the macroeconomic effects of government spending shocks in Korea. We compare results obtained with two alternative approaches: the narrative approach and Structural Vector-Autoregressive model (SVAR). We propose a new methodology for identifying exogenous and unexpected fiscal...
Persistent link: https://www.econbiz.de/10013100013
In a monetary union, the interaction between several governments and a single central bank is plagued by several sources of deficit bias, including common pool problems. Each government has strong preferences over local spending and taxation but suffers only part of the costs of union-wide...
Persistent link: https://www.econbiz.de/10012996333
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 … interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market …
Persistent link: https://www.econbiz.de/10013051614
the considerable employment gains achieved during the 1990s, with a historic contraction in manufacturing employment being … force behind both recent reductions in U.S. manufacturing employment and — through input-output linkages and other general …Even before the Great Recession, U.S. employment growth was unimpressive. Between 2000 and 2007, the economy gave back …
Persistent link: https://www.econbiz.de/10013021701
analyze transitions of workers between unemployment, regular employment and employment accompanied by welfare receipt. Working …. Our findings allow us to draw cautious conclusions on employment subsidies paid as welfare benefits …
Persistent link: https://www.econbiz.de/10012984507