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This paper is motivated by the lack of any obvious relationship betweenaggregate poverty and unemployment in Great Britain. We derive aframework based on individuals’ risks of unemployment and poverty,and how these vary over the economic cycle. Analysing the BritishHousehold Panel Survey for...
Persistent link: https://www.econbiz.de/10008695295
This paper investigates the impact of macroeconomic shocks on infant mortality in India andinvestigates likely … mechanisms. A recent OECD-dominated literature shows that mortality atmost ages is pro-cyclical but similar analyses for poorer … countries are scarce, and bothincome risk and mortality risk are greater in poor countries. This paper uses individual dataon …
Persistent link: https://www.econbiz.de/10005861644
We analyze the impact of short-run economic fluctuations on age-specific mortality usingBayesian time series … autoregressions of a latent mortality variable and of unemployment andGDP growth as main business cycle indicators. We find that young … adults noticeablydiffer from the rest of the population. They exhibit increased mortality in a recession,whereas most of the …
Persistent link: https://www.econbiz.de/10005862544
Using data for six OECD countries, this paper studies the effect of macroeconomic conditions on the mortality index kt … relationship between the state of the economy and mortality is found to change from procyclical to countercyclical in all six … variation in the mortality index. …
Persistent link: https://www.econbiz.de/10008939791
In this paper, I present a theory of dynamic economic growth, business cycles, and asset pricing that integrates (1) Marx's idea (and emphasized by Klein) of a two-class heterogeneity of the ownership structure of physical capital and human capital in a capitalist society, (2) Keynes' idea of...
Persistent link: https://www.econbiz.de/10005846603
This paper proposes a theory of investment fluctuations where the source of the oscillating dynamics is an agency problem between financiers and entrepreneurs. A central tenet of the theory is that investment decisions depend upon entrepreneurs’ initiative to select investment projects...
Persistent link: https://www.econbiz.de/10005858058
This paper introduces staggered right-to-manage wage bargaining into a NewKeynesian business cycle model. Our key result is that the model is able to generatepersistent responses in output, inflation, and total labor input to both neutraltechnology and monetary policy shocks. Furthermore, we...
Persistent link: https://www.econbiz.de/10008845687
Payroll taxes represent a major distortionary influence of governments on labor markets. Thispaper examines the role of payroll taxation and the social safety net for cyclical fluctuations ina nonmonetary economy with labor market frictions and unemployment insurance, when thelatter is only...
Persistent link: https://www.econbiz.de/10009360583
This paper analyzes the effects of different labor market institutions on inflation and outputvolatility. The eurozone offers an unprecedented experiment for this exercise: since 1999, nonational monetary policies have been implemented that could account for volatilitydifferences across member...
Persistent link: https://www.econbiz.de/10009360591
Using a longitudinal matched employer-employee data set for Portugal over the 1986-2005period, this study analyzes the heterogeneity in wages responses to aggregate labor marketconditions for newly hired workers and existing workers. Accounting for both worker and firmheterogeneity, the data...
Persistent link: https://www.econbiz.de/10009360639