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What's "structural" about unemployment in Europe : on the determinants of the European Commission's NAIRU estimates
Heimberger, Philipp; Kapeller, Jakob; Schütz, Bernhard - 2016
This paper analyzes the determinants of the European Commission's NAIRU estimates for 14 European OECD countries during … 1985-2012. The NAIRU is a poor proxy for 'structural unemployment': Labor market institutions - employment protection … legislation, union density, tax wedge, minimum wages - underperform in explaining the NAIRU, while cyclical variables - capital …
Persistent link: https://www.econbiz.de/10011779361
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The Impact of Labour Market Institutions and Capital Accumulation on Unemployment: Evidence for the OECD, 1985-2013
Heimberger, Philipp - 2019
This paper provides econometric evidence on the impact of labour market regulations on ('structural') unemployment rates. Based on a data set for 23 OECD countries over the time period 1985‑2013, the panel regression results suggest that standard institutional labour market indicators – such...
Persistent link: https://www.econbiz.de/10012099993
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The impact of fiscal policy on economic activity over the business cycle : evidence from a threshold VAR analysis
Baum, Anja; Koester, Gerrit B. - 2011
Does the state of the business cycle matter for the effects of fiscal policy shocks on GDP? This study analyses quarterly German data from 1976 to 2009 in a threshold SVAR, expanding the SVAR approach by Blanchard and Perotti (2002). In a linear benchmark SVAR, the analysis finds that hiking...
Persistent link: https://www.econbiz.de/10008936115
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Does it matter when labor market reforms are implemented? : the role of the monetary policy environment
Lastauskas, Povilas; Stakénas, Julius - 2019
Do labor market reforms initiated in periods of loose monetary policy yield different outcomes from those that were introduced in periods when monetary tightening prevailed? Since economic theory usually pays attention to the steady state change and ignores business cycle interactions of...
Persistent link: https://www.econbiz.de/10012103994
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RGAP: output gap estimation in R
Streicher, Sina - 2022
Assessing potential output and the output gap is essential for policy-making and fiscal surveillance. The European Commission proposes a production function methodology that involves the estimation of two classes of Gaussian state space models. This paper presents the R package RGAP which...
Persistent link: https://www.econbiz.de/10013256541
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The long term negative relation between public deficit and structural unemployment: An empirical study of OECD countries (1980-2009)
Fedeli, Silvia; Forte, Francesco; Ricchi, Ottavio - Dipartimento di Economia e Diritto, Facoltà di Economia - 2013
(1980-2009), the relationship between Non-Accelerating Inflation Rate of Unemployment, NAIRU, as dependent variable, the … percentage of GDP, controlling the results with additional variables which may be credited to impact on NAIRU also in the short … term. We find that UNLG/pot.GDP and the increase in fiscal burden may be both relevant in increasing the NAIRU in the long …
Persistent link: https://www.econbiz.de/10010856897
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The case for a job guarantee policy in Germany : a political-economic analysis of the potential benefits and obstacles
Landwehr, Jannik J. - 2020
As a bottom-up approach, a Job Guarantee policy can tackle the issue of unemployment on the macroeconomic, socioeconomic, and individual level in a unique way and promote the social inclusion of the unemployed. This paper aims at analysing the potential obstacles - namely inflationary pressure...
Persistent link: https://www.econbiz.de/10012301007
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RGAP: output gap estimation in R
Streicher, Sina - 2022
Assessing potential output and the output gap is essential for policy-making and fiscal surveillance. The European Commission proposes a production function methodology that involves the estimation of two classes of Gaussian state space models. This paper presents the R package RGAP which...
Persistent link: https://www.econbiz.de/10014374265
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Implications of output gap uncertainty in times of crisis
Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - 2012
This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it...
Persistent link: https://www.econbiz.de/10009690945
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The Performativity of Potential Output : Pro-Cyclicality and Path Dependency in Coordinating European Fiscal Policies
Heimberger, Philipp - 2016
This paper analyzes the performative impact of the European Commission's model for estimating ‘potential output', which is used as a yardstick for measuring the ‘structural budget balance' of EU countries and, hence, is crucial for coordinating European fiscal policies. In pre-crisis years,...
Persistent link: https://www.econbiz.de/10012978348