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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
conceptual difference between institutions and policies. It is then discussed the relevance of institutional arrangements to …
Persistent link: https://www.econbiz.de/10010330757
The Brazilian state is often viewed as inefficient and captured by economic interest groups and bureaucratic elites, leading to crony capitalism and clientelism. This has hindered the implementation of growth-inducing economic policies and contributed to a decline in productivity and economic...
Persistent link: https://www.econbiz.de/10014486023