Showing 1 - 10 of 13
. Controlling for demand-side and supply-side determinants of unemployment, we show that the PTB plays a significant role in … explaining unemployment in the continental European countries, but not in the Nordic nor the Anglo-Saxon ones. We also show that … there is no relationship between the incidence of the PTB and unemployment persistence, even though there is a positive one …
Persistent link: https://www.econbiz.de/10003355556
inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro …. We find that total connectedness is larger for prices (58.28%) than for unemployment (41.81%). We also identify …
Persistent link: https://www.econbiz.de/10012491801
This paper challenges the prevailing view of the neutrality of the labour income share to labour demand, and investigates its impact on the evolution of employment. Whilst maintaining the assumption of a unitary long-run elasticity of wages with respect to productivity, we demonstrate that...
Persistent link: https://www.econbiz.de/10008779969
This paper aims at identifying the labour share (wage-productivity gap) as a major factor in the evolution of inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate country-specific systems of labour demand and Gini coefficient...
Persistent link: https://www.econbiz.de/10009309510
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi … appears as a key determinant of capital accumulation which, in turn, is the transmission channel towards its unemployment … swings experienced by the financialization process. We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10009721371
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the...
Persistent link: https://www.econbiz.de/10009422480
chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation-unemployment …
Persistent link: https://www.econbiz.de/10003878210
of fiscal shocks and unemployment-output trade-offs are studied in this paper using state-of-the-art TVP-VAR modelling …
Persistent link: https://www.econbiz.de/10012054782
the PC and explain the evolution of inflation and unemployment in the US from 1970 to 2006. Since our empirical …-run. Furthermore, during the stagflating 70s, the productivity slowdown contributed substantially to the increases in both unemployment … unemployment rate. -- New Phillips curve ; frictional growth ; productivity growth ; stagflating seventies ; roaring nineties …
Persistent link: https://www.econbiz.de/10003879334
the US. -- oil prices ; unemployment ; vacancies ; business fluctuations …
Persistent link: https://www.econbiz.de/10008779924