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Unemployment Hysteresis Wage Determination And Labor Market Flexibility
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Book Synopsis Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility by : International Monetary Fund
Download or read book Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility written by International Monetary Fund and published by International Monetary Fund. This book was released on 1994-12-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a negative impact on wages; and (ii) there is some evidence that the incumbent workers, the “insiders,” exercise market power in wage determination, taking greater account of their own interests than those of the unemployed “outsiders.” In addition, it is argued that the automatic indexation of wages to prices in Belgium can cause a downward rigidity in real wages, given the multi-tier real wage bargaining process. Recent initiatives, including the introduction of a competitiveness norm for indexation, and labor market programs aimed at the long-term unemployed and the young, such as the plan d’accompagnement and the plan d’embauche des jeunes, are appropriate in view of the existence of insider power in wage determination.
Book Synopsis Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility by : Reza Moghadam
Download or read book Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility written by Reza Moghadam and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility by : Reza Moghadam
Download or read book Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility written by Reza Moghadam and published by . This book was released on 2006 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a negative impact on wages; and (ii) there is some evidence that the incumbent workers, the quot;insiders,quot; exercise market power in wage determination, taking greater account of their own interests than those of the unemployed quot;outsiders.quot; In addition, it is argued that the automatic indexation of wages to prices in Belgium can cause a downward rigidity in real wages, given the multi-tier real wage bargaining process. Recent initiatives, including the introduction of a competitiveness norm for indexation, and labor market programs aimed at the long-term unemployed and the young, such as the plan d`accompagnement and the plan d`embauche des jeunes, are appropriate in view of the existence of insider power in wage determination.
Book Synopsis Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: the Vase of Belgium by : Reza Moghadam
Download or read book Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility: the Vase of Belgium written by Reza Moghadam and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment and Inflation by : MichaelJ. Piore
Download or read book Unemployment and Inflation written by MichaelJ. Piore and published by Routledge. This book was released on 2017-07-05 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1979, this reader presents an industrialist view of the labour market and economics as they stood at the time in the United States. The essays collated aim to answer macroeconomic questions on this topic as well as exploring issues related closely to employment and inflation. This title will be of interest to students of business and economics.
Book Synopsis Wage Flexibility and Unemployment Dynamics in Regional Labor Markets by : Thomas Hyclak
Download or read book Wage Flexibility and Unemployment Dynamics in Regional Labor Markets written by Thomas Hyclak and published by W. E. Upjohn Institute. This book was released on 1992 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Wage Formation Process and Labour Market Flexibility in the Community, the US and Japan by : Kieran McMorrow
Download or read book The Wage Formation Process and Labour Market Flexibility in the Community, the US and Japan written by Kieran McMorrow and published by . This book was released on 1996 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1.Overview of labour market flexibility - 2.Wage formation process - expectations augmented phillips curve - 3.Labour market adjustment mechanisms - 4.International comparison of overall labour market flexibility - equilibrium unemployment - 5.Policy issues and concluding remarks.
Book Synopsis Labor Market Regulation, Flexibility and Employment by : Christopher L. Erickson
Download or read book Labor Market Regulation, Flexibility and Employment written by Christopher L. Erickson and published by . This book was released on 1994 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Combatting Unemployment by : Richard Jackman
Download or read book Combatting Unemployment written by Richard Jackman and published by . This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Labour Market Flexibility Affects Unemployment by : Marika Karanassou
Download or read book How Labour Market Flexibility Affects Unemployment written by Marika Karanassou and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis Unemployment and Wage Rigidity when Labor Supply is a Household Decision by : Kaushik Basu
Download or read book Unemployment and Wage Rigidity when Labor Supply is a Household Decision written by Kaushik Basu and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Rigidity and Unemployment by : Wilfred Beckerman
Download or read book Wage Rigidity and Unemployment written by Wilfred Beckerman and published by Bloomsbury Academic. This book was released on 1986 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Explaining Unemployment in Spain by : Mr.Jeffrey R. Franks
Download or read book Explaining Unemployment in Spain written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 1994-09-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
Book Synopsis Hysteresis Via Endogenous Rigidity in Wages and Participation by : Cynthia L. Doniger
Download or read book Hysteresis Via Endogenous Rigidity in Wages and Participation written by Cynthia L. Doniger and published by . This book was released on 2018 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that the past three "jobless" recoveries also featured asymmetries in labor force participation and labor compensation, with each falling to new lows during each cycle. We model these asymmetries as resulting from a strategic complementarity in firms' wage setting and workers' job search strategies. Strategic complementarity results in a continuum of possible equilibria with higher-wage equilibria welfare dominating lower-wage equilibria. Assuming that no economic agent deviates from an existing strategy unless deviation is a unilateral best response, the model exhibits (1) periods of endogenous rigidity in wages and participation, (2) persistent changes in wages, participation, and output in response to transitory movements in labor productivity, (3) sluggish recoveries including both a "jobless" phase, in which productivity recovers while unemployment remains elevated, and a "wageless" phase, in which employment recovers but wages remain depressed. Calibrating the model suggests that the U.S. unemployment rate may need to fall to as low as 2.8 percent before labor compensation recovers to pre-Financial Crisis levels.
Book Synopsis The Wage Curve by : David G. Blanchflower
Download or read book The Wage Curve written by David G. Blanchflower and published by MIT Press. This book was released on 1994 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.
Download or read book Labour Market Flexibility written by and published by . This book was released on 1991 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses five major topics: the meaning of the term "flexibility", the various forms which it takes in practice, its short-and long-term implications, the diverse forms it may assume in different national contexts, and finally its effectiveness as an instrument of economic and employment policy
