Showing 1 - 10 of 53
greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …
Persistent link: https://www.econbiz.de/10012478304
less skilled and their employment responses to adverse employment shocks. Following program liberalization in 1984, DI …
Persistent link: https://www.econbiz.de/10012470388
This paper assesses the standard data on output, labor input, and capital input, which imply one big wave' in multi-factor productivity (MFP) growth for the United States since 1870. The wave-like pattern starts with slow MFP growth in the late 19th century, then an acceleration peaking in...
Persistent link: https://www.econbiz.de/10012470998
. Adverse impacts of import competition on manufacturing employment, overall employment-population ratios, and income per capita … competition implies a reduction in the manufacturing employment-population ratio of 1.54 percentage points, which is 55% of the … employment rate. Reductions in population headcounts, which indicate net out-migration, register only for foreign-born workers …
Persistent link: https://www.econbiz.de/10012660079
cumulatively preserved between 2 and 3 million job-years of employment over 14 months at a cost of $170K to $257K per job … employment subsidies or business liquidity when the next pandemic or other large-scale economic emergency occurs, as it surely …
Persistent link: https://www.econbiz.de/10012814444
This paper studies the dynamic behavior of changes in productivity, wages, and prices. Results are based on a new data set that allows a consistent analysis of the aggregate economy, the manufacturing sector, and the nonmanufacturing sector. Results are presented for the U. S., Japan, and an...
Persistent link: https://www.econbiz.de/10012477000
Arthur M. Okun's last book, Prices and Quantities, contributes a theory of universal wage and price stickiness, but provides no explanation at all of historical and cross country differences in behavior. The core of this paper provides a new empirical characterization of price and wage changes...
Persistent link: https://www.econbiz.de/10012478264
This paper introduces a new approach to the empirical testing of the Lucas- Sargent-Wallace (LSW) "policy ineffectiveness proposition." Instead of testing that hypothesis in isolation from any plausible alternative, the paper develops a single empirical equation explaining price change that...
Persistent link: https://www.econbiz.de/10012478371
The race between education and technology provides a canonical framework that does an excellent job of explaining U.S. wage structure changes across the twentieth century. The framework involves secular increases in the demand for more-educated workers from skill-biased technological change,...
Persistent link: https://www.econbiz.de/10012479229
This paper argues that the key deep underlying fundamental for the growing international imbalances leading to the collapse of the Bretton Woods system between 1971 and 1973 was rising U.S. inflation since 1965. It was driven in turn by expansionary fiscal and monetary policies--the elephant in...
Persistent link: https://www.econbiz.de/10012481056