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Capital Accumulation and Unemployment : A Tale of Two Continents
Malley, Jim; Moutos, Thomas - 2021
In contrast to much recent work regarding the causes of European unemployment, in this paper, we emphasise the … accumulation and unemployment, we argue that what matters for the evolution of employment [and the unemployment rate] is not the …
Persistent link: https://www.econbiz.de/10013321065
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The macroeconomics of the labor market: Three fundamental views
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2007
We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010276418
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The macroeconomics of the labor market: Three fundamental views
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2006
We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010276421
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The macroeconomics of the labor market: three fundamental views
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2007
that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …
Persistent link: https://www.econbiz.de/10010281021
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Minimum wages, capital accumulation and worker's incomes
Oikonomidēs, Geōrgios; Moutos, Thomas - 2014
Using an intertemporal model of saving and capital accumulation we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to scale, or if there are no differences in ability...
Persistent link: https://www.econbiz.de/10010358969
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Can minimum wages raise workers' incomes in the long run?
Oikonomidēs, Geōrgios; Moutos, Thomas - 2016 - This Draft: May 2016
Using an intertemporal model of saving and capital accumulation with two types of agents (workers and capitalists) we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to...
Persistent link: https://www.econbiz.de/10011481224
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Minimum wages as a redistributive device in the long run
Oikonomidēs, Geōrgios; Moutos, Thomas - 2014
This paper analyzes long run outcomes resulting from adopting a binding minimum wage in a neoclassical model with perfectly competitive labour markets and capital accumulation. The model distinguishes between workers of heterogeneous ability and capitalists who do all the saving, and it entails...
Persistent link: https://www.econbiz.de/10010428828
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Education, Lack of Complementary Investment and Underemployment in an Open Economy
Marjit, Sugata; Ahuja, Rashmi; Pandey, Abhilasha - 2021
In many developing economies rate of unemployment is increasing with skill accumulation and thereby leading to … also how skill formation or education affects unemployment among the remaining uneducated. We have developed a general … equilibrium model of a small open developing economy incorporating skill formation, unemployment of unskilled labour in the formal …
Persistent link: https://www.econbiz.de/10013213779
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Unemployment, Growth and Fiscal Policy : New Insights on the Hysteresis Hypothesis
Raurich, Xavier; Sala, Hector; Sorolla, Valeri - 2021
We develop a growth model with unemployment due to imperfections in the labor market. In this model, wage inertia and …
Persistent link: https://www.econbiz.de/10013319288
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Animal spirits, investment and unemployment : an old Keynesian view of the Great Recession
Guerrazzi, Marco - In: Economia : revista da ANPEC 16 (2015) 3, pp. 343-358
This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort...
Persistent link: https://www.econbiz.de/10011865573