Showing 1 - 10 of 32
This paper studies interactions between labor market institutions and unemployment dynamics in transition economies. It presents a dynamic matching model in which state sector firms endogenously shed labor and private job creation takes time. Two main conclusions arises. First, higher...
Persistent link: https://www.econbiz.de/10014400421
The transition from plan to market has hinged on the development of a dynamic private sector that would serve as the engine of growth and employment creation. This paper examines the link between the availability of skilled workers and the creation of new private firms. Using a dynamic search...
Persistent link: https://www.econbiz.de/10014400529
This paper investigates the effects of macroeconomic and structural variables on financial intermediation. To this end, it presents a theoretical foundation for two new measures of intermediation, the money multiplier and the ratio of private sector credit to monetary base. Results from panel...
Persistent link: https://www.econbiz.de/10014401208
A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts...
Persistent link: https://www.econbiz.de/10014398011
This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these...
Persistent link: https://www.econbiz.de/10014398102
productivity growth, a rise in income inequality, and public policy. The model can account for a 2.2 percentage point (pp) decline … in r* between 1975 and 2015, which is within the range of empirical estimates. Rising income inequality is an important … most of the decline. Growing public debt is the major counteracting force (+0.31 pp). Permanent income inequality is of …
Persistent link: https://www.econbiz.de/10013170272
We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth … inequality are characterized by dynamism-a drive toward sophisticated export industries, innovation, and creative destruction and …
Persistent link: https://www.econbiz.de/10012517949
be explained by location alone. Consumption levels and locational inequality are positively related. In effect, from an …
Persistent link: https://www.econbiz.de/10012518698
This paper considers various dimensions and sources of gender inequality and presents policies and best practices to …
Persistent link: https://www.econbiz.de/10012518760
Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and … empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The … evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on …
Persistent link: https://www.econbiz.de/10012518886