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u* = √uv
Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022
Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...
Persistent link: https://www.econbiz.de/10013334429
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Globalisation, Labour Markets and International Adjustment - Essays in Honour of Palle S. Andersen
White, William R.; Gudmundsson, Mar; Turner, Philip - 2010
theme of the conference reflects Mr Andersen's long-standing research interest in wage determination and inflation dynamics … effect on global inflation of the integration of labour from emerging markets and former command economies into the global … market economy; and the impact of globalisation on the inflation process and the transmission mechanism of monetary policy …
Persistent link: https://www.econbiz.de/10014197460
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The German labour market reforms in a European context : a DSGE analysis
Fries, Claudia; Seymen, Atılım - 2013
While a widespread consensus exists among macroeconomists that the German labour market reforms in 2003-2005 have successfully contributed to the decline of the unemployment rate, critics claim that the reforms led to wage restraint and consequently consumption dampening accompanied by...
Persistent link: https://www.econbiz.de/10010204043
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(Spillover) effects of labour market reforms in Germany and France
Fries, Claudia; Seymen, Atılım - 2013
In this paper we analyze the (potential) effects of labour market and fiscal policy reforms by heterogeneous European countries - Germany and France - on the domestic and foreign economy. We test the implications of the gains in matching efficiency and reduced unemployment benefits induced by...
Persistent link: https://www.econbiz.de/10010432449
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The Labour Market in a Keynesian Economic Regime : Theoretical Debate and Empirical Findings
Herr, Hansjörg - 2010
productivity growth as well as the target inflation rate of the central bank, discretionary monetary policy geared towards growth …
Persistent link: https://www.econbiz.de/10013151089
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Gross Labor Market Flows and Entrepreneurship
Gaillard, Alexandre; Kankanamge, Sumudu - 2021
In the data, entrepreneurship contributes to the micro and macro-level patterns of gross labor market flows and the selection into that occupation is highly responsive to labor market policy changes. Using an occupational choice model of employment, unemployment, and entrepreneurship, we show...
Persistent link: https://www.econbiz.de/10013216367
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Climate policies, labor markets, and macroeconomic outcomes in emerging economies
Finkelstein Shapiro, Alan; Nuguer, Victoria - 2023
We study the labor market and macroeconomic effects of introducing a carbon tax in the energy sector in emerging economies (EMEs) by building a framework with equilibrium unemployment and firm entry that incorporates key elements of the distinct employment and firm structure of EMEs. Our model...
Persistent link: https://www.econbiz.de/10014460792
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Education and social mobility in Europe : levelling the playing field for Europe's children and fuelling its economy
Altzinger, Wilfried; Crespo Cuaresma, Jesús; … - 2015
The persistence of socioeconomic outcomes across generations acts as a barrier to a society's ability to exploit its resources efficiently. In order to derive policy measures which aim at accelerating intergenerational mobility, we review the existent body of research on the causes, effects and...
Persistent link: https://www.econbiz.de/10011337081
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Beyond full employment : the employer of last resort as an institution for change
Tcherneva, Pavlina R. - 2012
Over the past decade and a half the ability of the employer-of-last-resort (ELR) proposal to deliver full employment and price stability has been discussed at length in the literature. A different issue has received relatively little attention - namely, the concern that even when the ELR...
Persistent link: https://www.econbiz.de/10009622542
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Beyond Full Employment : The Employer of Last Resort as an Institution for Change
Tcherneva, Pavlina R. - 2012
Over the past decade and a half the ability of the employer-of-last-resort (ELR) proposal to deliver full employment and price stability has been discussed at length in the literature. A different issue has received relatively little attention — namely, the concern that even when the ELR...
Persistent link: https://www.econbiz.de/10013100200