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Does the public believe that fiscal and monetary stimulus reduce unemployment? I present survey evidence on this … monetary stimulus. In fact, the typical respondent believes that an increase in government spending makes unemployment worse … worsens unemployment while a Fed interest rate cut improves it. I show how opinion varies by political party, educational …
Persistent link: https://www.econbiz.de/10011112554
The question this paper poses relates to the role of economic theories in gaining wider support around political agendas. That is their ability to describe a problem in such a way, so that the “answer” would appear not as a political demand in favor of one class, but as a prerequisite for...
Persistent link: https://www.econbiz.de/10011258546
In this paper I employ Imre Lakatos's methodology of scientific research programs to scrutinize the idea that stagflation in the 1970s falsified the Keynesian research program. I point out that Keynesian models were able to account for stagflation once they included inflation expectations, so...
Persistent link: https://www.econbiz.de/10011108052
In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started. While Keynesian theories...
Persistent link: https://www.econbiz.de/10009151291
Unemployment in Australia is now at its lowest in over 30 years. This experience of low rates of unemployment has … unemployment is low in comparison with the previous 30 years, it is greater than the rates experienced in the 1950s and 1960s …, during which the average was slightly below two per cent. Furthermore, the 4.4 per cent rate of unemployment in April 2007 …
Persistent link: https://www.econbiz.de/10005787196
long term unemployment and exclusion, on the improvement of basic and professional qualification of the working population … in a perspective of lifelong training, namely as a way to prevent unemployment phenomena, and on the preventive …
Persistent link: https://www.econbiz.de/10005835453
shocks temporarily increase unemployment. Positive labor demand shocks increase employment, depress unemployment, rise real … average wages, and were found to be the main determinant of variability of employment and unemployment in the short-run. In … employment and unemployment. The retrospective simulations of the model show that Baltic states and Poland were significantly …
Persistent link: https://www.econbiz.de/10005835482
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a … natural rate of unemployment relative to the NAIRU. The natural rate of unemployment in the USA since the Second World War is …
Persistent link: https://www.econbiz.de/10005835658
In this paper we present a model designed to relate the detailed occupational and industrial demands imposed on the economy by several types of water resource investment. This detail provides the basis for adjusting the market cost of such public investments under the employment conditions...
Persistent link: https://www.econbiz.de/10005835671
A linear and lagged relationship between inflation, unemployment and labor force change rate, π(t)=A0UE(t-t0)+A1dLF … and labor force and between unemployment and labor force are tested separately in appropriate time intervals, where the … properties of error terms. The confirmed validity of the linear lagged relationship between inflation, unemployment and labor …
Persistent link: https://www.econbiz.de/10005835964