Narrow search
Showing 1 - 10 of 2,296
Cover Image
Rethinking wage vs. profit-led growth theory with implications for policy analysis
Palley, Thomas I. - 2014
The distinction between wage-led and profit-led growth is a major feature of Post-Keynesian economics and it has triggered an extensive econometric literature aimed at identifying whether economies are wage or profit-led. That literature treats the economy's character as exogenously given. This...
Persistent link: https://www.econbiz.de/10010458230
Cover Image
Post-Keynesian Macrodynamics and Path-Dependent Growth
Setterfield, Mark - 2010
This paper discusses the treatment of growth as a path-dependent process in Post-Keynesian macrodynamics. A synthetic Post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path dependent in the Post-Keynesian tradition. Recent developments in...
Persistent link: https://www.econbiz.de/10014190506
Cover Image
Effects of an Employment Subsidy in Long-Run Stagnation
Murota, Ryu-ichiro - 2016
nominal wages and unemployment appears because of efficiency wages. The other is that as in the Japanese economy since the … early 1990s, unemployment attributable to aggregate demand deficiency arises even in the long run. We analyze the effect of … deficiency and unemployment …
Persistent link: https://www.econbiz.de/10012992107
Cover Image
Aggregate Effects of Minimum Wage Regulation at the Zero Lower Bound
Glover, Andrew - 2018
The Fair Minimum Wage Act of 2007 increased the U.S. nominal minimumwage by 41 percent, just as interest rates hit the Zero LowerBound. I study the interaction of these events in a parsimonious extensionof the sticky-price New Keynesian model with heterogeneous labor.A “minimum-wage...
Persistent link: https://www.econbiz.de/10012922493
Cover Image
Heterogeneous Labor Market Effects of Monetary Policy
Bergman, Nittai; Matsa, David A.; Weber, Michael - 2021
This paper analyzes the heterogeneous effects of monetary policy on workers with different levels of labor force attachment. Exploiting variation in labor market tightness across metropolitan areas, we show that the employment of populations with lower labor force attachment--Blacks, high school...
Persistent link: https://www.econbiz.de/10013252223
Cover Image
Scenarios for the Transition to AGI
Korinek, Anton; Suh, Donghyun - National Bureau of Economic Research - 2024
ever more complex tasks amenable to automation. The effects on wages depend on a race between automation and capital … collapse. But declines may occur even before if large-scale automation outpaces capital accumulation and makes labor too …
Persistent link: https://www.econbiz.de/10014512109
Cover Image
Capital accumulation, labour market institutions, and unemployment in the medium run
Stockhammer, Engelbert (contributor);  … - 2008
insufficient capital accumulation responsible for unemployment (Arestis et al 2007). Empirical work in this tradition has paid … capital accumulation as a macroeconomic shock. In the empirical analysis, medium-term unemployment is explained by capital … control variables and show larger effects than LMI. -- Unemployment ; NAIRU ; capital accumulation ; labour market …
Persistent link: https://www.econbiz.de/10003779645
Cover Image
Assessing the impact of incomes policy : the italian experience
Pastore, Francesco - 2010
relationship between real wages, labour productivity and unemployment. Different time series econometric tools confirm that incomes … impact of incomes policy on the weak relationship between real wages and unemployment is detected. The analysis calls for a …
Persistent link: https://www.econbiz.de/10008779168
Cover Image
Testing the effectiveness of the French work-sharing reform : a forecasting approach
Logeay, Camille; Schreiber, Sven - 2005 - This revision: July 2004
The authors analyse the macroeconomic impact of the French work-sharing reform of 2000 (a reduction of standard working hours in combination with wage subsidies). Using a vector error correction model (VECM) for several labour market variables as well as inflation and output the authors produce...
Persistent link: https://www.econbiz.de/10003744522
Cover Image
Can hiring subsidies benefit the unemployed? : hiring subsidies can be a very cost-effective way of helping the unemployed, but only when they are carefully targeted
Brown, Alessio J. G. - 2015
Long-term unemployment can lead to skill attrition and have detrimental effects on future employment prospects …, particularly following periods of economic crises when employment growth is slow and cannot accommodate high levels of unemployment … costeffective and efficient means of reducing unemployment, during both periods of economic stability and recovery. …
Persistent link: https://www.econbiz.de/10011432202