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larger earnings fluctuations than employees and that they frequently transition into unemployment. Given the self …-employed are not eligible to unemployment insurance, I analyze the provision of benefits targeted at these risks using a calibrated …. This exercise suggests that extending the current US unemployment insurance scheme to the self-employed comes with a clear …
Persistent link: https://www.econbiz.de/10014581780
distribution. The conventional method of analysis is regression of summary inequality indices on variables such as the unemployment … and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …
Persistent link: https://www.econbiz.de/10010262571
governments in economic growth and low unemployment in order to win elections, there should be a link between political business …
Persistent link: https://www.econbiz.de/10010270371
unionization of parliamentary members has a negative impact on economic growth and at the same time increases inflation while … detrended unemployment remains unaffected. The effects are stable even after controlling for partisan politics. Thus, at least …
Persistent link: https://www.econbiz.de/10010270380
economy. While about half of all studies for the United States find a significant effect of unemployment and inflation on … choice of the sample period is of crucial importance. While in the very long run we find unemployment, inflation and the …
Persistent link: https://www.econbiz.de/10010281454
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
find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …
Persistent link: https://www.econbiz.de/10010262566
labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. This finding is robust to including a microeconomically realistic degree of indexation of wages to inflation. The lack of a …
Persistent link: https://www.econbiz.de/10010277345
inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the … standard model is enhanced by real wage rigidities or labor turnover costs, an endogenous short-run inflation-output tradeoff … rigidities. Second, labor turnover costs are the dominant source for the inflation-output tradeoff when both rigidities are …
Persistent link: https://www.econbiz.de/10010277953