Narrow search
Showing 1 - 10 of 122
Cover Image
Effects of Employment Protection on Worker and Job Flows : Evidence from the 1990 Italian Reform
Kugler, Adriana D. - 2019
This paper uses the Italian Social Security employer-employee panel to study the effects of the Italian reform of 1990 on worker and job flows. We exploit the fact that this reform increased unjust dismissal costs for firms below 15 employees, while leaving dismissal costs unchanged for bigger...
Persistent link: https://www.econbiz.de/10012903630
Cover Image
Exchange Rates and Local Labor Markets
Goldberg, Linda S.; Tracy, Joseph S. - 2000
We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...
Persistent link: https://www.econbiz.de/10014193865
Cover Image
What We Know and Do Not Know About the Natural Rate of Unemployment
Blanchard, Olivier J.; Katz, Lawrence F. - 2021
Over the past three decades, a large amount of research has attempted to identify the determinants of the natural rate of unemployment. It is this body of work we assess in this paper. We reach two main conclusions. First, there has been considerable theoretical progress over the past 30 years....
Persistent link: https://www.econbiz.de/10013313236
Cover Image
The Role of Demand Management in the Maintenance of Full Employment
McCallum, Bennett T. - 2021
This paper begins by identifying nominal price stickiness as the logical basis for the Keynesian or activist point of view concerning demand management policy. It then characterizes two alternative approaches to policy analysis that have been adopted by adherents of the Keynesian position, the...
Persistent link: https://www.econbiz.de/10013227003
Cover Image
Economics, History, and Causation
Morck, Randall - 2011
Economics and history both strive to understand causation: economics using instrumental variables econometrics and history by weighing the plausibility of alternative narratives. Instrumental variables can lose value with repeated use because of an econometric tragedy of the commons bias: each...
Persistent link: https://www.econbiz.de/10013131513
Cover Image
In Search of the Multiplier for Federal Spending in the States During the Great Depression
Fishback, Price V. - 2010
If there was any time to expect a large peace-time multiplier effect from federal spending in the states, it would have …. Using panel data methods we estimate a multiplier, defined as the change in per capita state economic activity in response … to an additional dollar per capita of federal funds. The state per capita personal income multiplier with respect to per …
Persistent link: https://www.econbiz.de/10013135808
Cover Image
De Facto Fiscal Space and Fiscal Stimulus : Definition and Assessment
Aizenman, Joshua - 2010
We define the notion of a 'de facto fiscal space' of a country as the inverse of the tax-years it would take to repay the public debt. Specifically, we measure the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across...
Persistent link: https://www.econbiz.de/10013135878
Cover Image
What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package
Cogan, John F. - 2010
government purchases multiplier. But equally crucial is the size of the government purchases multiplicand--the change in … government purchases of goods and services that the multiplier actually multiplies. Using new data from the Bureau of Economic … government purchases multiplier, changes in government purchases have had no material effect on the growth of GDP since the time …
Persistent link: https://www.econbiz.de/10013136548
Cover Image
How Big (Small?) are Fiscal Multipliers?
Ilzetzki, Ethan - 2010
countries, (ii) the fiscal multiplier is relatively large in economies operating under predetermined exchange rates but is zero …
Persistent link: https://www.econbiz.de/10013136746
Cover Image
The End of the Great Depression 1939-41 : Policy Contributions and Fiscal Multipliers
Gordon, Robert J. - 2010
in 1941, particularly in the second half of that year. As a result our preferred government spending multiplier is 1 ….80 multiplier is relevant to situations like 2009-10 when capacity constraints are absent across the economy.Two sets of new …
Persistent link: https://www.econbiz.de/10013137986