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In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
, in many African countries, unemployment rates are low and growth is seldom jobless. Regrettably, most of the poor work … long hours and cannot make ends meet while the violation of basic human rights is not uncommon. Again, youth unemployment …
Persistent link: https://www.econbiz.de/10011107833
Employment and Unemployment Patterns data (ABS, 1997) to identify the determinants of low paid employment in the male and female …
Persistent link: https://www.econbiz.de/10008565356
The existence of downward nominal wage rigidity has been used to argue against the adoption of zero inflation targets … pursuit of small positive rates of inflation as an objective of monetary policy. …
Persistent link: https://www.econbiz.de/10008565400
The paper examines the implications of an important aspect of the ongoing reorganization of work - the move from occupational specialization toward multi-tasking - for centralized wage bargaining. The analysis shows how, on account of this reorganization, centralized bargaining becomes...
Persistent link: https://www.econbiz.de/10005190724
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
This Paper studies the impact of wage growth on the evolution of employment in an intertemporal general-equilibrium model with endogenous productivity growth. For real wage growth above laissez-faire levels, we obtain steady-state equilibria in which productivity grows at the same rate as wages,...
Persistent link: https://www.econbiz.de/10005789120
reciprocal relationship. The variable considered are: unemployment, inflation, consumptions, investments and current accounts. We … between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test for the … relationship between unemployment and the Government deficit, e) we show the existence of a relationship between unemployment and …
Persistent link: https://www.econbiz.de/10011261122
reciprocal relationship. The variables considered are: unemployment, inflation, consumptions, investments and current accounts …-Okun relationship between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test … for the relationship between unemployment and the Government deficit, e) we show the existence of a relationship between …
Persistent link: https://www.econbiz.de/10010795487
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a …
Persistent link: https://www.econbiz.de/10005835658