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Labor-force participation rates and the informal value of unemployment rates: Evidence from disaggregated US data

Gustavsson, Magnus; Österholm, Pär - 2010

The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in … the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are … highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment …

Persistent link: https://www.econbiz.de/10010321459

Does Unemployment Hysteresis Equal Employment Hysteresis?

Gustavsson, Magnus; Österholm, Pär - 2006

, Sweden, the U.K. and the U.S., we find results for employment rates that contrast those based on unemployment rates. In … particular, rather than the mixed evidence for hysteresis found using unemployment rates, employment rates result in unequivocal …This paper investigates if conclusions regarding labour market hysteresis differ depending on whether employment or …

Persistent link: https://www.econbiz.de/10010321556

Hoarding international reserves versus a Pigovian tax-cum-subsidy scheme: Reflections on the deleveraging crisis of 2008-9, and a cost benefit analysis

Aizenman, Joshua - 2010

In this paper we outline a Pigovian tax-cum-subsidy scheme that deals with concerns about the costs and efficacy of hoarding international reserves (IR) as a means of self-insurance against a deleveraging crisis. We overview the degree to which IR provided self-insurance to Emerging Markets...

Persistent link: https://www.econbiz.de/10010287764

Estimating the Relationship between Age Structure and GDP in the OECD Using Panel Cointegration Methods

Österholm, Pär - 2004

from panel regressions support effects in line with the life cycle hypothesis and human capital theory; children and …

Persistent link: https://www.econbiz.de/10010321605

Current account patterns and national real estate markets

Aizenman, Joshua; Jinjarak, Yothin - 2008

This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...

Persistent link: https://www.econbiz.de/10010285300

Fiscal fragility: what the past may say about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...

Persistent link: https://www.econbiz.de/10010287758

Managing financial integration and capital mobility: Policy lessons from the past two decades

Aizenman, Joshua; Pinto, Brian - 2011

The accumulated experience of emerging markets over the last two decades has laid bare the tenuous links between external financial integration and faster growth on the one hand and the proclivity of such integration to fuel costly crises on the other. These crises have not gone without...

Persistent link: https://www.econbiz.de/10010287769

Managing financial integration and capital mobility: Policy lessons from the past two decades

Aizenman, Joshua; Pinto, Brian - 2011

Persistent link: https://www.econbiz.de/10010288154

Net fiscal stimulus during the great recession

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2011

This paper studies the patterns of fiscal stimuli in the OECD countries propagated by the global crisis. Overall, we find that the USA net fiscal stimulus was modest relative to peers, despite it being the epicenter of the crisis, and having access to relatively cheap funding of its twin...

Persistent link: https://www.econbiz.de/10010288157

Fiscal fragility: What the past says about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...

Persistent link: https://www.econbiz.de/10010288164