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Political Cycles in OECD Economies
Alesina, Alberto - 1990
This paper studies whether the dynamic behavior of GNP growth, unemployment and inflation is systematically affected by … summarized as follows: a) The "political business cycle" hypothesis, as formulated in Nordhaus (1975) on output and unemployment … differences in output and unemployment and of long-run partisan differences in the inflation rate as implied by the "rational …
Persistent link: https://www.econbiz.de/10012475549
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Euro-Productivity and Euro-Jobs since the 1960s : Which Institutions Really Mattered?
Allard, Gayle - 2006
harmed either employment or GDP. Even unemployment benefits do not have robustly negative effects …
Persistent link: https://www.econbiz.de/10012466204
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Macroeconomic Policy and Elections in OECD Democracies
Alesina, Alberto - 1991
economic outcomes, in particular, on GDP growth and unemployment; 2) We see some evidence of "political monetary cycles." that …
Persistent link: https://www.econbiz.de/10012475163
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A Stable International Monetary System Emerges : Inflation Targeting is Bretton Woods, Reversed
Rose, Andrew K. - 2006
A stable international monetary system has emerged since the early 1990s. A large number of industrial and a growing number of developing countries now have domestic inflation targets administered by independent and transparent central banks. These countries place few restrictions on capital...
Persistent link: https://www.econbiz.de/10012465949
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Political Credit Cycles : The Case of the Euro Zone
Fernandez-Villaverde, Jesus - 2013
We study the mechanisms through which the adoption of the Euro delayed, rather than advanced, economic reforms in the Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional...
Persistent link: https://www.econbiz.de/10012459762
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Borders, Trade and Welfare
Anderson, James E. - 2001
International economic integration yields large potential welfare effects, even in a static constant returns competitive world economy. Our method is novel. The effect of border barriers on trade flows is often inferred from gravity models. But their rather atheoretic structure precludes welfare...
Persistent link: https://www.econbiz.de/10012470203
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Country Size, Currency Unions, and International Asset Returns
Hassan, Tarek Alexander - 2012
Differences in real interest rates across developed economies are puzzlingly large and persistent. I propose a simple explanation: Bonds issued in the currencies of larger economies are expensive because they insure against shocks that affect a larger fraction of the world economy. I show that...
Persistent link: https://www.econbiz.de/10012460602
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Self-Employment in OECD Countries
Blanchflower, David G. - 2000
self-employment rate and the unemployment rate. It is also shown that the self-employed are more satisfied with their jobs …
Persistent link: https://www.econbiz.de/10012471290
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The Role of Shocks and Institutions in the Rise of European Unemployment : The Aggregate Evidence
Blanchard, Olivier - 1999
Two key facts about European unemployment must be explained: the rise in unemployment since the 1960s, and the … heterogeneity of individual country experiences. While adverse shocks can potentially explain much of the rise in unemployment … institutions pre-date the rise in unemployment. Based on a panel of institutions and shocks for 20 OECD nations since 1960, we find …
Persistent link: https://www.econbiz.de/10012471501
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Hysteresis in Unemployment : Evidence from OECD Estimates of the Natural Rate
Ball, Laurence M.; Onken, Joern - National Bureau of Economic Research - 2021
This paper studies the dynamics of unemployment (u) and its natural rate (u*), with u* measured by real-time estimates …
Persistent link: https://www.econbiz.de/10012660021