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On Measuring Uncertainty: Snakes and Ladders
Junankar, Pramod N. (Raja) - 2016
households and lower investment by firms, and hence leads to lower aggregate investment and growth. This paper argues that …
Persistent link: https://www.econbiz.de/10011559672
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The Economic Effects of COVID-19 and Credit Constraints: Evidence from Italian Firms' Expectations and Plans
Balduzzi, Pierluigi; Brancati, Emanuele; Brianti, Marco; … - 2020
. Most firms revise downward their expectations for sales, orders, employment, and investment, while prices are expected to …
Persistent link: https://www.econbiz.de/10012322428
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Investment crowding-out and labor market effects of financialization in the US
González, Ignacio; Sala, Hector - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi …-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization … swings experienced by the financialization process. We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10010293162
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Capitalism Recoupled
Kelly, Colm; Snower, Dennis J. - 2021
– globalization, technological advance and financialization (GTF) – that have weakened the connections between economies and societies …
Persistent link: https://www.econbiz.de/10012658088
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Investment Crowding-Out and Labor Market Effects of Financialization in the U.S.
González, Ignacio; Sala, Hector - Institute for the Study of Labor (IZA) - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi …-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization … swings experienced by the financialization process. We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10010959689
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Completing the Monetary Union of Europe as Mid-term Solution of the Euro Crisis
Fischer, Justina A.V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011307457
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Assessing the impact of incomes policy: The italian experience
Pastore, Francesco - 2010
The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...
Persistent link: https://www.econbiz.de/10010272671
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Macroeconomic dynamics in a model of goods, labor and credit market frictions
Petrosky-Nadeau, Nicolas; Wasmer, Etienne - 2011
Building a model with three imperfect markets - goods, labor and credit - representing a product's life-cycle, we find that goods market frictions drastically change the qualitative and quantitative dynamics of labor market variables. The calibrated model leads to a significant reduction in the...
Persistent link: https://www.econbiz.de/10010278356
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A steady-state model of a non-walrasian economy with three imperfect markets
Wasmer, Etienne - 2011
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10010278660
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A Theory of Non-Coasean Labor Markets
Blanco, Andrés; Drenik, Andres; Moser, Christian; … - 2023
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/10014296865