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Unemployment and finance : how do financial and labour market factors interact?

Gatti, Donatella; Vaubourg, Anne-Gaël - 2009

Using data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment. We show that the impact of financial variables depends strongly on the labour market context. Increased market capitalization as well as decreased...

Persistent link: https://www.econbiz.de/10003826138

Religion and growth

Becker, Sascha O.; Rubin, Jared; Woessmann, Ludger - 2023

We use the elements of a macroeconomic production function - physical capital, human capital, labor, and technology - together with standard growth models to frame the role of religion in economic growth. Unifying a growing literature, we argue that religion can enhance or impinge upon economic...

Persistent link: https://www.econbiz.de/10014391202

Artificial intelligence, income distribution and economic growth

Gries, Thomas; Naudé, Wim - 2020

The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected, so...

Persistent link: https://www.econbiz.de/10012266990

Partial insurance and investments in children

Carneiro, Pedro; Ginja, Rita - 2015

This paper studies the impact of permanent and transitory shocks to income on parental investments in children. We use panel data on family income, and an index of investments in children in time and goods, from the Children of the National Longitudinal Survey of Youth. Consistent with the...

Persistent link: https://www.econbiz.de/10010510508

Optimal allocations in growth models with private information

Krebs, Tom; Scheffel, Martin - 2022

-additive expected utility representation with a one-period utility function that is additive over consumption and effort as well as … logarithmic over consumption. Human capital investment is risky due to idiosyncratic shocks that follow a Markov process with … the sense that individual effort levels and individual consumption growth rates are history-independent. Further …

Persistent link: https://www.econbiz.de/10013426651

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10011412072

Unemployment and productivity growth : an empirical analysis within the augmented Solow model

Bräuninger, Michael; Pannenberg, Markus - 2000

Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of unemployment on productivity growth heavily depends...

Persistent link: https://www.econbiz.de/10011325983

Health and economic growth : reconciling the micro and macro evidence

Bloom, David E.; Canning, David; Kotschy, Rainer; … - 2018

Micro-based and macro-based approaches have been used to assess the effects of health on economic growth. Micro-based approaches aggregate the return on individual health from Mincerian wage regressions to derive the macroeconomic effects of population health. Macro-based approaches estimate a...

Persistent link: https://www.econbiz.de/10011949024

Downward real wage rigidity and equal treatment wage contracts : theory and evidence

Snell, Andy; Stüber, Heiko; Thomas, Jonathan P. - 2018

Recent dynamic contracting models of downward real wage rigidity with "equal treatment" - newly hired workers cannot price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but upwardly flexible during "good" times. We use an...

Persistent link: https://www.econbiz.de/10011855567

Nonlinearity between the shadow economy and level of development

Wu, Dong Frank; Schneider, Friedrich - 2019

This paper is the first attempt to directly explore the long-run nonlinearity of the shadow economy. Using a dataset of 158 countries over the period from 1996 to 2015, our results reveal a robust U-shaped relationship between the shadow economy size and GDP per capita. Our results imply that...

Persistent link: https://www.econbiz.de/10012022432

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