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Estimating Pakistan’s Time Varying Non-Accelerating Inflation Rate of Unemployment: An Unobserved Component Approach

Shaheen, Farzana; Haider, Azad; Javed, Sajid Amin - In: International Journal of Economics and Financial Issues 1 (2011) 4, pp. 172-179

This paper envisages estimating the Time-Varying Non-Accelerating Inflation Rate of Unemployment (TV-NAIRU) as an unobserved stochastic variable for Pakistan over the time period 1973-74 to 2007-08 using Kalman filter. Results of the study are evident that TV-NAIRU increased from 5.3 percent...

Persistent link: https://www.econbiz.de/10009318178

Unemployment and productivity in long-run: the role of macroeconomic volatility

Benigno, Pierpaolo; Ricci, Luca Antonio; Surico, Paolo - Dipartimento del Tesoro, Ministero dell'Economia e …

We propose a theory of low-frequency movements in unemployment based on downward real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based...

Persistent link: https://www.econbiz.de/10009643102

Unemployment, Growth and Taxation in Industrial Countries

Daveri, Francesco; Tabellini, Guido - C.E.P.R. Discussion Papers - 1997

To the layperson, the upward trend in European unemployment is related to the slowdown in economic growth. We argue that the layperson’s view is correct. The increase in European unemployment and the slowdown in economic growth are related because they stem from a common cause: an excessively...

Persistent link: https://www.econbiz.de/10005662079

Inequality and the Political Economy of Eurosclerosis

Krugman, Paul - C.E.P.R. Discussion Papers - 1993

Before the early 1970s generous welfare states seemed to be consistent with high employment. Since then, there has been growing concern over disincentive effects of social insurance. This paper suggests that the problem may have arisen in part because European nations were in effect trying to...

Persistent link: https://www.econbiz.de/10005662317

Disinflation and the NAIRU in a New-Keynesian New-Growth Model

Rannenberg, Ansgar - Volkswirtschaftliche Fakultät, … - 2008

Unemployment in the big continental European economies like France and Germany has been substantially increasing since the mid 1970s. So far it has been difficult to empirically explain the increase in unemployment in these countries via changes in supposedly employment unfriendly institutions...

Persistent link: https://www.econbiz.de/10005626873

Unemployment: Walras's voluntary and Keynes's involuntary

Davar, Ezra - 2015

This paper shows that Keynes's involuntary unemployment derived from Walras's voluntary unemployment by means of changing of the characteristic of the aggregate supply curve (function) of labour. On the one hand, when the original aggregate supply function is a strongly increasing function, as...

Persistent link: https://www.econbiz.de/10012010862

Higher Profits and Lower Capital Prices : Is Factor Allocation Optimal?

Andersen (deceased), Palle Schelde; Klau, Marc; … - 1999

From an international perspective, the European rate of unemployment has been relatively high and growing over the last one to two decades; on this background, the parallel rise in profit shares in a number of European countries seems to be at odds with expected economic behavior. The paper...

Persistent link: https://www.econbiz.de/10014203188

Is there a long-run relationship between the unemployment insurance and the labor force participation rate in the USA? : a nonlinear analysis

Ahmed, Haydory Akbar - In: Economia : revista da ANPEC 23 (2022) 1, pp. 25-43

the labor market. Statistical evidence of the presence of a co-movement will thus shed new light on their dynamics. Design … nature of short-run dynamics. Findings The Enders and Siklos (2001) test find evidence of threshold cointegration between the …-run dynamics find evidence that the growth in aggregate UI spending and the growth in labor force participation rate adjust …

Persistent link: https://www.econbiz.de/10014418035

Microfounding Meaningful Wage Rigidity and Involuntary Job Loss

Annable, James - 2017

The holy grail of Keynesian theorists during much of the postwar period has been to fully microfound meaningful wage rigidity (MWR), defined by its capacity to rationally suppress wage recontracting. This paper accomplishes that longstanding goal! MWR is shown to be a necessary condition for the...

Persistent link: https://www.econbiz.de/10012964433

Higher Profits and Lower Capital Prices : Is Factor Allocation Optimal?

Andersen (deceased), Palle Schelde; Klau, Marc; … - 2013

From an international perspective, the European rate of unemployment has been high and growing over the last one to two decades; against this background, the parallel rise in profit shares in a number of European countries seems to be at odds with expected economic behaviour. This paper...

Persistent link: https://www.econbiz.de/10014061272