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", stock-market fluctuations should Granger cause fluctuations of the unemployment rate. We performed several Granger … (2015) for U.S. data, we found that the stock market Granger causes unemployment in the short run and the long run when we … control for a deterministic trend in the unemployment rate. Results of a frequency-domain test show that, in the short run …
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unemployment when taking place in industries characterized by low skilled wage rigidity. Thus, in terms of unemployment, not …
Persistent link: https://www.econbiz.de/10011373516
unemployment when taking place in industries characterized by low skilled wage rigidity. Thus, in terms of unemployment, not …
Persistent link: https://www.econbiz.de/10011634413
This paper examines the response of five prominent Swedish economists, David Davidson, Gustav Cassel, Eli Heckscher, Knut Wicksell and Bertil Ohlin, to John Maynard Keynes's "The Economic Consequences of the Peace" and to the German reparations in the 1920s. When Keynes's book appeared, Davidson...
Persistent link: https://www.econbiz.de/10013208857
picture is observed for Greek Government bonds, which we show are governed mainly by deficit-to-GDP ratio, unemployment rate … highly correlated to increases in unemployment and increases to its sovereign debt-to-GDP ratio. For the case of Greece it is …, a deterioration of the debt-to-GDP ratio together with an increase in unemployment more than offset this effect …
Persistent link: https://www.econbiz.de/10013090656
In a Keynesian mode of thinking wages become the nominal anchor for the price level because unit-labour costs in a closed economy represent the most important factor in determining the price level. The second most important driver of price level changes is the exchange rate. A positive economic...
Persistent link: https://www.econbiz.de/10013151089
There has been a long discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...
Persistent link: https://www.econbiz.de/10011803177
In this article an overview of the German macroeconomic performance in the last decade is stressed; extraordinary recovery of the German productivity and successes of the foreign trade face depressed domestic demand and a still worrying situation in the labour market. This article attempts to...
Persistent link: https://www.econbiz.de/10010460456