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This paper proposes tests of policy ineffectiveness in the context of macroeconometric rational expectations models. It is assumed that there is a policy intervention that takes the form of changes in the parameters of a policy rule, and that there are sufficient observations before and after...
Persistent link: https://www.econbiz.de/10010375404
This paper introduces two co-movement measures based on the Thick Pen Transform into the macroeconomic literature: the Thick Pen Measure of Association (TPMA) as well as Multi-Thickness Thick Pen Measure of Association (MTTPMA). Both measures are non-parametric, time-varying, and flexible....
Persistent link: https://www.econbiz.de/10014281390
This paper examines possible spillover effects of parental unemployment on the subjective wellbeing of 12- to 21-year …-old children. Using German panel data (SOEP), we show that unemployment of fathers and mothers is negatively associated with their … unemployment has negative effects, while no effect of fathers' unemployment can be detected. In subgroup analyses, we do not find …
Persistent link: https://www.econbiz.de/10014431287
. In particular, I show that once markups are allowed to respond to trade liberalization, unemployment and residual wage …
Persistent link: https://www.econbiz.de/10014364693
income distribution. With a minimum wage and unemployment availability of credit affects number of varieties. With imperfect … both with unemployment and imperfect credit market , a result in stark contrast with the conventional model with …
Persistent link: https://www.econbiz.de/10013262745
minimum wage causes more unemployment, but also leads to more skill formation as unemployment is concentrated on low … gains of more skill formation outweigh the social welfare losses of increased unemployment. Using a highly conservative …
Persistent link: https://www.econbiz.de/10010234542
downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …
Persistent link: https://www.econbiz.de/10010237280
impact on aggregate unemployment, native- and foreign-born unemployment rates). We also find that migration is influenced by … host economic conditions (migration responds positively to host GDP per capita and negatively to host total unemployment …
Persistent link: https://www.econbiz.de/10009766677
, and on the economy-wide unemployment rate. A reduction in the offshoring cost affects intrafirm and intrasectoral … economy-wide unemployment rate are the elasticity of substitution between inputs and the elasticity of demand for … cost of offshoring affects jobs and unemployment. We also show that the implications of a reduction in the cost of trading …
Persistent link: https://www.econbiz.de/10010227259
We investigate the relationship between unemployment and growth in China. We find considerable differences in the … find a hump-shaped relationship between unemployment and our proxy for the speed of reform. The current unemployment in …
Persistent link: https://www.econbiz.de/10010189833