Showing 1 - 10 of 125
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/10010330234
paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …
Persistent link: https://www.econbiz.de/10011604969
Data from the 2009 Internet Survey of the Health and Retirement Study show that many U.S. households experienced large capital losses in housing and financial wealth, and that 5% of respondents lost their job during the Great Recession. As a consequence of these shocks, many households reduced...
Persistent link: https://www.econbiz.de/10011605807
This paper examines the intergenerational correlation in unemployment in Norway and, by use of the sibling … unemployment. Confirming existing evidence, I find a substantial intergenerational correlation in unemployment. Approximately half … measures of parental unemployment. …
Persistent link: https://www.econbiz.de/10010284254
rates of unemployment during their whole prime-age work career. Building on a unique combination of micro- and macro data …
Persistent link: https://www.econbiz.de/10010284268
’ transition rates from unemployment to employment.Based on Norwegian register data from the 1989-2002 period, we show that this … indicator,in contrast to the aggregate rate of unemployment, correlates well with an expost-calculated GDP-based business cycle … unemployment rate, both at an aggregate and a disaggregate level, and hence improve policy makers ability to assess current labour …
Persistent link: https://www.econbiz.de/10010284458
Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...
Persistent link: https://www.econbiz.de/10014480560
We estimate the short run effects of Brexit border disruption on the UK economy. We estimate a structural VAR for the UK where Brexit effects are identified by the dates of Brexit events, the referendum and the exit from the single market. We find evidence of short run effects of Brexit:...
Persistent link: https://www.econbiz.de/10014480601
unemployment. The results suggest that the elasticity is indeed negative, i.e. that real wages are lower in local labour markets … with higher unemployment. The size of the elasticity for the euro area is similar to that found in previous studies for a … number of countries, including the United States. Furthermore, there is some variation in the unemployment elasticity by …
Persistent link: https://www.econbiz.de/10011604517
deviate from the strict inflation targeting since the policy maker faces a typical unemployment/inflation trade-off. In this … (hence the output gap) since the latter also depends on the evolution of unemployment. The matching frictions add a … matches. Hence optimal monetary policy features unemployment targeting along with inflation targeting. …
Persistent link: https://www.econbiz.de/10011604744