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Macroeconomic effects of unemployment benefits in small open economies: a stock–flow consistent approach

Byrialsen, Mikael Randrup; Raza, Hamid - In: European Journal of Economics and Economic Policies: … 15 (2018) 3, pp. 335-363

This paper attempts to analyse the macroeconomic effects of unemployment benefits in a small open economy. We adopt a … Danish economy. We then analyse the effects of a fall in the unemployment compensation rate on the economy. The results … rise in net exports. Due to this trade-off, the net effect of a fall in the compensation rate on the aggregate unemployment …

Persistent link: https://www.econbiz.de/10014363336

Unemployment: natural rate epicycles or hysteresis?

Cross, Rod - In: European Journal of Economics and Economic Policies: … 11 (2014) 2, pp. 136-148

This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by … unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious because the … regarding hysteresis effects on output and unemployment is then reviewed. …

Persistent link: https://www.econbiz.de/10014363204

Unemployment, capital accumulation and labour market institutions in the Great Recession

Stockhammer, Engelbert; Guschanski, Alexander; Köhler, … - In: European Journal of Economics and Economic Policies: … 11 (2014) 2, pp. 182-194

This paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run, the private … unemployment performance. We provide econometric evidence that the post-Keynesian view holds up well in the recession following the …

Persistent link: https://www.econbiz.de/10014363208

US employment inequality in the Great Recession and the COVID-19 pandemic

Steven M. Fazzari, Ella Needler - In: European Journal of Economics and Economic Policies: … 18 (2021) 2, pp. 223-239

This article compares inequality in employment across demographic groups in the Great Recession and the COVID-19 pandemic. We develop a measure to capture both how much employment declines during a recession and the persistence of employment losses. Results show a significant shift of job loss...

Persistent link: https://www.econbiz.de/10014363418

Restructuring finance to promote productive employment

Epstein, Gerald - In: European Journal of Economics and Economic Policies: … 11 (2014) 2, pp. 161-170

Modern financial markets and institutions have grown massively in relation to the economy in the United States and elsewhere, and there is little evidence that in recent years their contributions to economic and social output justify the resources they capture and the risks they impose on...

Persistent link: https://www.econbiz.de/10014363206

Ecological macroeconomics: reflections on labour markets

Stagl, Sigrid - In: European Journal of Economics and Economic Policies: … 11 (2014) 2, pp. 171-181

The paper outlines elements of ecological macroeconomics and implications for labour markets. It discusses reasons for growth restrictions and options for measuring the biophysical basis of economic production. The paper then goes on to explore implications for labour markets and implications...

Persistent link: https://www.econbiz.de/10014363207

Foreign debt, distribution, inflation, and growth in an SFC model

Bortz, Pablo Gabriel - In: European Journal of Economics and Economic Policies: … 11 (2014) 3, pp. 269-299

We present an open economy growth model, using Stock-Flow Consistent (SFC) methodology. Our contribution is to add the possibility of one country issuing debt denominated in another country's currency, as well as allowing its firms to borrow from foreign banks. We investigate the effects and...

Persistent link: https://www.econbiz.de/10014363214

Currency regime crises, real wages, functional income distribution and production

Brancaccio, Emiliano; Garbellini, Nadia - In: European Journal of Economics and Economic Policies: … 12 (2015) 3, pp. 255-276

This study examines 28 selected cases of transition from a fixed to a more flexible exchange rate combined with devaluation over the period 1980–2013. The crises examined generally prove to be significantly correlated to a reduction in real wages and the wage share. However, both groups are...

Persistent link: https://www.econbiz.de/10014363243

Monetary financing of public investment: a viable way forward for the euro area?

Watt, Andrew - In: European Journal of Economics and Economic Policies: … 13 (2016) 2, pp. 241-254

the euro area. The problems of low inflation, high unemployment and public debts seem scarcely resolvable in an … inflation 'trigger'. …

Persistent link: https://www.econbiz.de/10014363269

Marx and Keynes: from exploitation to employment

Helmedag, Fritz - In: European Journal of Economics and Economic Policies: … 16 (2019) 2, pp. 260-271

Marx's and Keynes's analyses of capitalism complement each other well. In a largely general model including the public sector and international trade it is shown that the labour theory of value provides a sound foundation to reveal the factors influencing employment. Workers buy 'necessaries'...

Persistent link: https://www.econbiz.de/10014363355