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Sources of German unemployment : a structural vector error correction analysis
Brüggemann, Ralf - 2001
parameter restrictions. A cointegration analysis for the unified Germany reveals a long rum relationship between real wages …, productivity and unemployment which is interpreted as a wage setting relation. From a Subset VECM we identify meaningful structural …. We compare these results to results from a standard SVECM and find that, using the Subset VECM reduces estimation …
Persistent link: https://www.econbiz.de/10009613616
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...
Persistent link: https://www.econbiz.de/10012157899
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What accounts for the German labor market miracle? : a macroeconomic investigation
Klein, Mathias; Schiman, Stefan - 2019 - This version: February 28, 2019
We study the driving forces of the so-called "German labor market miracle" the trend-shift and steady decline of German unemployment over the last two decades that persisted beyond the Great Recession. Our structural VAR approach encompasses various factors within a single comprehensive...
Persistent link: https://www.econbiz.de/10012307753
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Explaining shifts in the unemployment rate with productivity slowdowns and accelerations : a co-breaking approach
Schreiber, Sven - 2009
We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The … initial and final regimes are essentially equal, thus supporting theories that explain the productivity slowdown by a slow …
Persistent link: https://www.econbiz.de/10003827158
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Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area
Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12
In this paper, we show that in order to obtain a sound identification of Euro Area monetary policy shocks, one needs to deal with the interaction of the European Central Bank and the US Federal Reserve. In other words, a proper identification of monetary policy shocks for an open economy like...
Persistent link: https://www.econbiz.de/10013168711
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Uncertainty and employment dynamics in the euro area and the US
Netšunajev, Aleksei; Glass, Katharina - 2016
In this paper we investigate transmission and spillovers of local and foreign economic policy uncertainty shocks to unemployment in two largest economic regions in the world - the United States (US) and the Euro area (EA). For this purpose we deploy Bayesian Markov-switching structural vector...
Persistent link: https://www.econbiz.de/10011437769
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Explaining shifts in the unemployment rate with productivity slowdowns and accelerations: a co-breaking approach
Schreiber, Sven - 2009
We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The … initial and final regimes are essentially equal, thus supporting theories that explain the productivity slowdown by a slow …
Persistent link: https://www.econbiz.de/10010265226
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Explaining deviations from Okun's law
Foroni, Claudia; Furlanetto, Francesco - 2022
's law are a natural and expected outcome once one takes a multi-shock perspective, as long as shocks to automation, labor …
Persistent link: https://www.econbiz.de/10013207330
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The Effect of Non-technological News Shocks on Unemployment Fluctuations : The Case of Europe
Garcia-Rodriguez, Marta; Pinilla-Torremocha, Clemente - 2023
response of unemployment to such shock if one allows for small deviation from rational expectations …
Persistent link: https://www.econbiz.de/10014352734
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Counteracting unemployment in crises : non-linear effects of short-time work policy
Gehrke, Britta; Hochmuth, Brigitte - 2017
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty in order to prevent layoffs and stabilize employment. Many OECD countries have used this policy in the Great Recession, for example. This paper shows that the effects of...
Persistent link: https://www.econbiz.de/10011718992