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We argue that the U.S. personal saving rate’s long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious ‘buffer stock’ model of optimal...
Persistent link: https://www.econbiz.de/10011242291
employment, unemployment, and economic growth in OECD countries. The paper examines a number of facets of tax and welfare policy …
Persistent link: https://www.econbiz.de/10005263942
. Understanding the interaction between income support systems (such as unemployment benefits, social assistance, early retirement and …. The German labor market has been plagued by high and persistent unemployment in the last two decades in combination with a …
Persistent link: https://www.econbiz.de/10010273931
force participation is high and the unemployment rate is low (also for young workers). Among the unemployed there are …
Persistent link: https://www.econbiz.de/10010273960
This paper proposes an empirical method for estimating a long-run trend for the unemployment rate that is grounded in … the modern theory of unemployment. I write down an unobserved components model and identify the cyclical and trend … components of the underlying unemployment flows, which in turn imply a time varying estimate of the unemployment trend, the …
Persistent link: https://www.econbiz.de/10010500228
Existing unemployment insurance systems in many OECD countries involve a ceiling on insurable earnings. The result is …
Persistent link: https://www.econbiz.de/10010321580
depicted and its effects on formal and informal labour markets. The most important challenges for employment policy as well as …
Persistent link: https://www.econbiz.de/10010294504
By international standards, unemployment in Sweden remained remarkably low throughout the 1970s and the 1980s. In the … early 1990s, however, the unemployment rate skyrocketed and hit double-digit levels. Unemployment remained high for several … the rise and fall of unemployment. It is argued that the steep rise in unemployment was mainly the result of a series of …
Persistent link: https://www.econbiz.de/10010321578
This paper examines the movements in EU unemployment from two perspectives: a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …
Persistent link: https://www.econbiz.de/10010281027
We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the...
Persistent link: https://www.econbiz.de/10005769145