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This brief reviews the evolution of the US and the European labour markets since the beginning of the financial crisis. In the US, the unemployment rate and the share of long-term unemployment grew very fast, during the crisis, thereby reaching levels close to those in the EU. Does that mean...
Persistent link: https://www.econbiz.de/10011291914
countries whereas it remained at a comparatively low level in the USA despite considerably stronger inflows into the labour … especially noticeable in comparison with the USA. It is also the result of a relatively low significance of jobs in the service …
Persistent link: https://www.econbiz.de/10010732959
"Education is the 'raw material' of the knowledge-based society which is at the centre of the new neo-classical growth theory, and most of all at the heart of the evolutionary growth theory, as the innovation capabilities of economies depend on human capital. According to the more recent...
Persistent link: https://www.econbiz.de/10010734128
This paper proposes a new methodology to evaluate the economic effect of statespecific policy changes, using bank-branching deregulations in the U.S. as an example. The new method compares economic performance of contiguous counties on opposite sides of state borders, where on one side...
Persistent link: https://www.econbiz.de/10011604834
We use Bayesian time-varying parameters VARs with stochastic volatility to investigate changes in the marginal predictive content of the yield spread for output growth in the United States and the United Kingdom, since the Gold Standard era, and in the Eurozone, Canada, and Australia over the...
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This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.
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