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Author : Gylfi Zoega
Publisher :
ISBN 13 :
Total Pages : 354 pages
Book Rating : 4.:/5 (317 download)
Download or read book A Structural Model of Equilibrium Unemployment written by Gylfi Zoega and published by . This book was released on 1993 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edmund S. Phelps
Publisher : Harvard University Press
ISBN 13 : 9780674843738
Total Pages : 444 pages
Book Rating : 4.8/5 (437 download)
Download or read book Structural Slumps written by Edmund S. Phelps and published by Harvard University Press. This book was released on 1994 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.
Author : Eran Yashiv
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.3/5 ( download)
Download or read book The Determinants of Equilibrium Unemployment written by Eran Yashiv and published by . This book was released on 1995 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edward C. Budd
Publisher : W. W. Norton
ISBN 13 : 9780393096903
Total Pages : 484 pages
Book Rating : 4.0/5 (969 download)
Download or read book Problems of the Modern Economy written by Edward C. Budd and published by W. W. Norton. This book was released on 1966-10 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen A. Woodbury
Publisher : Springer Science & Business Media
ISBN 13 : 9401002355
Total Pages : 244 pages
Book Rating : 4.4/5 (1 download)
Download or read book Search Theory and Unemployment written by Stephen A. Woodbury and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Search Theory and Unemployment contains nine chapters that survey and extend the theory of job search and its application to the problem of unemployment. The volume ranges from surveys of job search theory that take microeconomic and macroeconomic perspectives to original theoretical contributions which focus on the externalities arising from non-sequential search and search under imperfect information. It includes a clear and authoritative survey of econometric methods that have been developed to estimate models of job search, as well as two lucid contributions to the empirical search literature. Finally, it includes a study that reviews and extends the literature on optimal unemployment insurance and concludes with an appraisal of the influence of search theory on the thinking of macroeconomic policymakers.
Author : Edmund Phelps
Publisher :
ISBN 13 : 9780674844377
Total Pages : 0 pages
Book Rating : 4.8/5 (443 download)
Download or read book Structural Slumps written by Edmund Phelps and published by . This book was released on 1994 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Albert van der Horst
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Structural Estimates of Equilibrium Unemployment in Six OECD Economies written by Albert van der Horst and published by . This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pierre Koning
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogenous Agents written by Pierre Koning and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pierre W. Koning
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (691 download)
Download or read book Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents written by Pierre W. Koning and published by . This book was released on 1994 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gaetano Lisi
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783843383752
Total Pages : 64 pages
Book Rating : 4.3/5 (837 download)
Download or read book Matching Models of Equilibrium Unemployment written by Gaetano Lisi and published by LAP Lambert Academic Publishing. This book was released on 2011 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to provide an overview of the labour market s benchmark macroeconomic models. The matching models of equilibrium unemployment are, in fact, the primary and most popular theoretical tools used by economists to evaluate various labour market policies and to study one of the key macroeconomic variables: the unemployment rate. It has been recognised that unemployment has also a structural nature which persists over the business cycle. The matching models, i.e. the models à la Mortensen-Pissarides, explain the co-existence in equilibrium of unemployment and vacancies through frictions in matching workers and firms. Furthermore, these models generate predictions that have the right direction: unemployment goes up in recession and down in boom, while job vacancies shift in the opposite direction. The central role of these models in imperfect labour markets has recently been confirmed by the 2010 Nobel Prize for economy awarded to the founders of this approach: Peter Diamond, Dale Mortensen and Christopher Pissarides.
Download or read book The Equilibrium Search Model with Productivity Disperson and Structural Unemployment written by and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bent Jesper Christensen
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (46 download)
Download or read book The Equilibrium Search Model with Productivity Dispersion and Structural Unemployment written by Bent Jesper Christensen and published by . This book was released on 1999 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maciej Konrad Dudek
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (129 download)
Download or read book On Artificial Structural Unemployment and Endogenous Minimum Wage written by Maciej Konrad Dudek and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a novel model of equilibrium unemployment. Specifically, in a dynamic micro based model, we illustrate that rational and profit maximizing firms can choose to pay wages that exceed the market clearing level to restrict competition. Resulting unemployment and above market clearing wages are both shown to be a part of equilibrium and to persist idifinitely. In addition, we provide a new rationale for the prevalence of minimum wage legislation in most economies. In particular, we show that minimum wage regulation can be be universally favored by all producers while being resnted by employees.
Author : William F. Mitchell
Publisher :
ISBN 13 :
Total Pages : 118 pages
Book Rating : 4.:/5 (216 download)
Download or read book The NAIRU, Structural Imbalance and the Macro Equilibrium Unemployment Rate written by William F. Mitchell and published by . This book was released on 1985 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James Pemberton
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (17 download)
Download or read book Equilibrium unemployment in two-sector model written by James Pemberton and published by . This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andreas Pollak
Publisher : Mohr Siebeck
ISBN 13 : 9783161493041
Total Pages : 204 pages
Book Rating : 4.4/5 (93 download)
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Author : Sangyup Choi
Publisher : International Monetary Fund
ISBN 13 : 1498356303
Total Pages : 26 pages
Book Rating : 4.4/5 (983 download)
Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
