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We know from experience that weak economic growth increases the unemployment rate. In 1962 Okun proposed to measure … potential output in terms of unemployment gap. From this relation a direct link between increase in unemployment and output …
Persistent link: https://www.econbiz.de/10005510372
The factors behind the emergence of the New Economy are still poorly understood. In this article, Pascal Petit from CEPREMAP and CNRS in France provides an institutional perspective on the developmental phases or roots of this New Economy. He analyzes the structural, institutional and...
Persistent link: https://www.econbiz.de/10005157594