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Using a large panel of OECD countries this paper studies the link between debt and macroeconomic stability by comparing the evolution of balance sheet aggregates and economic output in high- and lowdebt environments. While the relationship between debt and economic growth has been extensively...
Persistent link: https://www.econbiz.de/10009696437
Over the last decades Argentina’s living standards have lost ground relative to other developed and emerging economies. Putting Argentina on a path to stronger, inclusive and job-rich growth requires boosting productivity and strengthening investment through wide-ranging structural reforms....
Persistent link: https://www.econbiz.de/10011823732
In this paper we examine whether past labour market reforms aiming at reducing the rate of unemployment have raised its … Monte-Carlo techniques, we do not find any evidence of such policy trade-off. In contrast, we find that reduced unemployment … associated with a weaker persistence of unemployment over time, which implies a lower volatility of unemployment in the long run …
Persistent link: https://www.econbiz.de/10009711222
to facilitate hiring dynamics and to minimise long-term unemployment and scarring risks among vulnerable groups who have …
Persistent link: https://www.econbiz.de/10012801196
governance, higher foreign reserves and several labour market characteristics such as higher unemployment benefits and greater …
Persistent link: https://www.econbiz.de/10011578170
Greece’s labour market entered the COVID-19 shock following several years of sustained employment growth and with wages … picking up. Unemployment remained high and employment rates were low, especially among women, the young and older workers. The … shock led to a sharp fall in labour force activity and has stalled new hiring. The improved social protection and temporary …
Persistent link: https://www.econbiz.de/10012304424
The global financial crisis and the high associated costs have revived the academic and policy interest in “early warning indicators” of crises. This paper provides empirical evidence on the usefulness of a new set of vulnerability indicators, proposed in a companion paper (Röhn et al.,...
Persistent link: https://www.econbiz.de/10011399585
The global financial crisis and its high economic and social costs have revived academic and policy interest in “early warning indicators” of crises. This paper aims to investigate the performance of vulnerability indicators as advance warning indicators of past severe GDP per capita...
Persistent link: https://www.econbiz.de/10011577964
Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...
Persistent link: https://www.econbiz.de/10010231015