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Revisiting European Unemployment
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Book Synopsis Revisiting European Unemployment by : Olivier J. Blanchard
Download or read book Revisiting European Unemployment written by Olivier J. Blanchard and published by Economic and Social Reseach Institute (ESRI). This book was released on 1998 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper starts from two sets of facts about Continental Europe. The first is the steady increase in unemployment since the early 1970s. The second is the evolution of the capital share, an initial decline in the 1970s, followed by a much larger increase since the mid-1980s. The paper then develops a model of capital accumulation, unemployment and factor prices. Using this model to look at the data, it reaches two main conclusions: The initial increase in unemployment, from the mid-1970s to the mid-1980s, was mostly due to a failure of wages to adjust to the slowdown in underlying factor productivity growth. The initial effect was to decrease profit rates and capital shares. Over time, the reaction of firms was to reduce capital accumulation and move away from labor, leading to a steady increase in unemployment, and a recovery of the capital share. The reason why wage moderation, clearly evident in the data since the mid-1980s, has not led to a decrease in unemployment is that another type of shift has been at work, this time on the labor demand side. At a given wage and a given capital stock firms have steadily decreased employment. The effect of this adverse shift in labor demand has been to lead to both continued high unemployment, and increasing capital shares. What lies behind this shift in labor demand? There are two potential lines of explanation. The first is shifts in the distribution of rents away from workers, for example, the elimination of chronic excess employment by firms. The second explanation points to technological bias: firms in Continental Europe are introducing technologies biased against labor and towards capital.
Book Synopsis Revisiting European Unemployment by : Olivier Blanchard (économiste.)
Download or read book Revisiting European Unemployment written by Olivier Blanchard (économiste.) and published by . This book was released on 1998 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis European Unemployment Revisited by : Giuseppe Bertola
Download or read book European Unemployment Revisited written by Giuseppe Bertola and published by . This book was released on 2016 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper painstakingly restores a vintage empirical model of unemployment determination by interacting shocks and institutions, and runs it on recent data featuring dramatic shocks and controversial institutional change. Theoretical insights and empirical results suggest that reforms and capital flows contribute sensible and interrelated explanations for the recent twists and turns of unemployment rates in Europe and elsewhere.
Book Synopsis European Unemployment and Turbulence Revisited in a Matching Model by : Lars Ljungqvist
Download or read book European Unemployment and Turbulence Revisited in a Matching Model written by Lars Ljungqvist and published by . This book was released on 2004 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hysteresis and the European Unemployment Problem Revisited by : Jordi Galí
Download or read book Hysteresis and the European Unemployment Problem Revisited written by Jordi Galí and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some shocks have permanent effects on that variable. I explore possible sources of this nonstationarity through the lens of a New Keynesian model with unemployment, and assess their empirical relevance.
Book Synopsis Hysteresis and the European Unemployment Problem Revisited by :
Download or read book Hysteresis and the European Unemployment Problem Revisited written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revisiting the Hypothesis of High Discounts and High Unemployment by : Paolo Martellini
Download or read book Revisiting the Hypothesis of High Discounts and High Unemployment written by Paolo Martellini and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We revisit the hypothesis that cyclical fluctuations in unemployment are caused by shocks to the discount rate. We use a rich search-theoretic model of the labor market in which the UE, EU and EE rates are all endogenous. Analytically, we show that an increase in the discount rate lowers the UE rate and, under some natural conditions, it lowers the EU rate. Quantitatively, we show that an increase in the discount rate from 4 to 10% generates a 3.5% decline in the UE rate and a 6% decline in the EU rate. The response of the unemployment rate is minuscule. These findings are at odds with the actual behavior of the US labor market over the business cycle, which features a negative comovement between the UE and EU rates and large unemployment fluctuations. We show that aggregate productivity shocks generate the correct comovement between the UE and EU rates, as well as large unemployment fluctuations.
Book Synopsis NBER Macroeconomics Annual 1986 by :
Download or read book NBER Macroeconomics Annual 1986 written by and published by . This book was released on 1986 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revisiting the Informal Sector by : Sarbajit Chaudhuri
Download or read book Revisiting the Informal Sector written by Sarbajit Chaudhuri and published by Springer Science & Business Media. This book was released on 2009-10-15 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insight into the diverse aspects of the informal sector, its role in the context of unemployment, child labor, globalization and environment, as well as its multi-faceted interaction with the other sectors of the economy.
Book Synopsis European Integration Revisited by : Michael Calingaert
Download or read book European Integration Revisited written by Michael Calingaert and published by Routledge. This book was released on 2018-02-12 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this fresh and timely account, Michael Calingaert explores the successes and failures of European economic and political integration, analyzes the factors that will determine its future course, and outlines the directions the European Union is moving in as it approaches the 21st century. Assessing U.S. interests affected by European integration, Calingaert recommends policies for the United States to consider in the face of an increasingly consolidated Europe. With its broad coverage and readable synthesis of a wealth of detailed information, this book will be of interest to students, scholars, and policymakers alike.
Book Synopsis The Welfare State Revisited by : José Antonio Ocampo
Download or read book The Welfare State Revisited written by José Antonio Ocampo and published by Columbia University Press. This book was released on 2018-03-27 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: The welfare state has been under attack for decades, but now more than ever there is a need for strong social protection systems—the best tools we have to combat inequality, support social justice, and even improve economic performance. In this book, José Antonio Ocampo and Joseph E. Stiglitz bring together distinguished contributors to examine the global variations of social programs and make the case for a redesigned twenty-first-century welfare state. The Welfare State Revisited takes on major debates about social well-being, considering the merits of universal versus targeted policies; responses to market failures; integrating welfare and economic development; and how welfare states around the world have changed since the neoliberal turn. Contributors offer prescriptions for how to respond to the demands generated by demographic changes, the changing role of the family, new features of labor markets, the challenges of aging societies, and technological change. They consider how strengthening or weakening social protection programs affects inequality, suggesting ways to facilitate the spread of effective welfare states throughout the world, especially in developing countries. Presenting new insights into the functions the welfare state can fulfill and how to design a more efficient and more equitable system, The Welfare State Revisited is essential reading on the most discussed issues in social welfare today.
Book Synopsis Revisiting EU-Africa Relations in a Changing World by : Fargion, Valeria
Download or read book Revisiting EU-Africa Relations in a Changing World written by Fargion, Valeria and published by Edward Elgar Publishing. This book was released on 2021-09-07 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book explores the current state of EU-Africa relations from a multidisciplinary perspective, placing emphasis on recent developments in five areas that are crucial for EU-Africa relations: development cooperation, trade, migration, security and democratization. It considers how Africa’s dependence on the EU has decreased due to the declining importance of development cooperation, and increasing cooperation with emerging powers, notably the BRIC nations.
Book Synopsis Rethinking European Welfare by : Janet Fink
Download or read book Rethinking European Welfare written by Janet Fink and published by SAGE. This book was released on 2001-05-25 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rethinking European Welfare provides a wide-ranging and innovative rethinking of the study of Europe and social policy and offers new ways of analyzing European welfare and its future. Whilst acknowledging the importance of research and analysis of policy making in Europe, this Reader addresses a range of other challenging and provoking issues which have been marginalized or ignored in the study of European social policy. .
Book Synopsis Mismatch Unemployment by : Aysegul Sahin
Download or read book Mismatch Unemployment written by Aysegul Sahin and published by . This book was released on 2012 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new database covering the universe of online U.S. job advertisements. Mismatch across industries and occupations explains at most 1/3 of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role. The share of the rise in unemployment explained by occupational mismatch is increasing in the education level.
Book Synopsis Divisive integration. The triumph of failed ideas in Europe — revisited by : Steffen Lehndorff
Download or read book Divisive integration. The triumph of failed ideas in Europe — revisited written by Steffen Lehndorff and published by ETUI. This book was released on 2014-04-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a follow-up to the ETUI 2012 volume 'The triumph of failed ideas'. The focus of the book is the weight attributed to the different economic and social development paths in ten individual EU countries, and their interaction with the austerity regime established at EU level which in fact is deepening the crisis rather than paving ways out of it. The most dangerous implication of this policy approach is, according to this study, that it is driving countries apart - misleadingly in the name of 'Europe', hence the title of the book 'divisive integration'. The main message of the book is that a gradual recovery is possible only if there is a change of course in individual countries that then triggers reactions in the policies of other countries and perturbations at the EU level. However, these changes in individual countries is no longer feasible without a green light or at least toleration from the level of the European institutions.
Book Synopsis Inflation and Activity – Two Explorations and their Monetary Policy Implications by : Mr.Olivier J. Blanchard
Download or read book Inflation and Activity – Two Explorations and their Monetary Policy Implications written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2015-11-06 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
Book Synopsis The European Social Model in Crisis by : Daniel Vaughan-Whitehead
Download or read book The European Social Model in Crisis written by Daniel Vaughan-Whitehead and published by Edward Elgar Publishing. This book was released on 2015-04-30 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to provide a comprehensive and systematic assessment of the impact of the crisis and austerity policies on all elements of the European Social Model. This book assesses the situation in each individual EU member state on the basi
