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Using the Reserve Bank of Australia's MARTIN model we compare actual monetary policy decisions to a counterfactual in … high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …
Persistent link: https://www.econbiz.de/10013373260
Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...
Persistent link: https://www.econbiz.de/10012405441
We develop a theory of labor markets in a monetary economy with four realistic features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient job separations occur in the form of endogenous...
Persistent link: https://www.econbiz.de/10014278008
This is the first study to evaluate the effects of early pension withdrawal policies on tenures on unemployment … half-a-million Australians who found themselves newly on an unemployment payment in the initial months of the COVID-19 … pandemic, between April and June 2020, resulted in a 32 per cent lower exit rate from unemployment benefits inside the first …
Persistent link: https://www.econbiz.de/10013273943
OpenStreetMap can significantly improve estimates of labor force participation and unemployment rates. Incorporating geospatial … information substantially increases the accuracy of male and female labor force participation and unemployment rates at the state … unemployment. Small area estimation using a nested error conditional random effect model also greatly improves municipal estimates …
Persistent link: https://www.econbiz.de/10013271198
approach provides accurate effect estimates, especially if time-varying variation in the unemployment rate of the local labor …
Persistent link: https://www.econbiz.de/10012390913
endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers … replacement rate can be more effective compared to an increase of the unemployment benefit replacement rate. …
Persistent link: https://www.econbiz.de/10012517675
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10011845664
This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10011916540
Studies of deprivation usually ignore mental illness. This paper uses household panel data from the USA, Australia … from unemployment, poverty, physical ill health, and mental illness. The largest proportion suffer from mental illness …. Multiple regression shows that mental illness is not highly correlated with poverty or unemployment, and that it contributes …
Persistent link: https://www.econbiz.de/10011308598