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relating unemployment and vacancies to inflation, the link between these labor market indicators and inflation depends on … curve shifts between 1960 and 2000. A reduction in matching efficiency, that depressed unemployment outflows, shifted the … Beveridge curve is essential for drawing policy conclusions from the joint behavior of unemployment and job openings. …
Persistent link: https://www.econbiz.de/10014480477
This paper extends a general equilibrium model of unemployment and working hours and evaluates the model on a 5 percent …. Furthermore, working time reductions may result in an increase in wage pressure, causing unemployment to rise. …
Persistent link: https://www.econbiz.de/10010321052
This paper exploits cross-country variation in the degree of geographical isolation, prior to the advent of sea-faring and airborne transportation technologies, to examine its impact on the course of economic development across the globe. The empirical investigation establishes that prehistoric...
Persistent link: https://www.econbiz.de/10010284086
the regional and skill dimension of mismatch unemployment, we find a substantial increase of mismatch unemployment for …
Persistent link: https://www.econbiz.de/10012662715
Economists have long emphasized the importance of expectations in determining macroeconomic outcomes Yet there has been almost no recent effort to model actual empirical expectations data; instead macroeconomists usually simply assume expectations are rational This paper shows that while...
Persistent link: https://www.econbiz.de/10010293441
explaining the deviations of household inflation and unemployment expectations from the rational expectations benchmark … demographic groups have sharply different predictions for macroeconomic aggregates like the inflation rate …
Persistent link: https://www.econbiz.de/10010293481
increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …
Persistent link: https://www.econbiz.de/10010321824
unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and … an upward sloping curve for high inflation rates. The reason is that low inflation rates make saving, as opposed to … consumption, more attractive. Less consumption is associated with less output and therefore higher unemployment. To the contrary …
Persistent link: https://www.econbiz.de/10012026513
There is a body of literature that favors universal and unconditional public assurance policies over those that are targeted and means-tested. Two such proposalsthe basic income proposal and job guaranteesare discussed here. The paper evaluates the impact of each program on macroeconomic...
Persistent link: https://www.econbiz.de/10010266448
inflation in most of the EU member states. At the same time, wages-in part, wages of the unskilled-are relatively losing ground … extent recent inflation trends are attributable to the constraints imposed by the monetary union-namely negative demand … impact of seasonal effects on inflation, in the context of the Greek socalled traditional petit-bourgeois capitalism. Fourth …
Persistent link: https://www.econbiz.de/10010276238