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Unemployment Hysteresis And The Natural Rate Hypothesis
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Book Synopsis Unemployment, Hysteresis, and the Natural Rate Hypothesis by : Rod Cross
Download or read book Unemployment, Hysteresis, and the Natural Rate Hypothesis written by Rod Cross and published by . This book was released on 1988 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aimed at economists and students of macroeconomics and labour economics, this collection of essays covers topics ranging from hysteresis and the natural rate to characteristics of the unemployed.
Book Synopsis The Natural Rate of Unemployment by : Rod Cross
Download or read book The Natural Rate of Unemployment written by Rod Cross and published by Cambridge University Press. This book was released on 1995-06-22 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: For 25 years, theory about the causes of, and possible solutions to, the problem of unemployment has been dominated by Phelps' and Friedman's natural rate of unemployment hypothesis. This postulates that the equilibrium rate of unemployment consistent with steady inflation is determined by structural variables: sustainable reductions in unemployment can be achieved only by measures to change underlying microeconomic structures, such as benefit and pay bargaining systems. Belief in the hypothesis has faltered since the 1980s, the hypothesis being unable to explain the dramatic upward shifts in European unemployment rates. These essays reflect upon the fundamental structures underlying the hypothesis, assess the related evidence, and look forwards, suggesting possible modifications. In contrast to the single rate postulated by the natural rate hypothesis, several of the contributors propose that there are ranges of unemployment rates consistent with steady inflation.
Book Synopsis The Natural Rate Hypothesis, Hysteresis, and the U.S. Employment Experience by : Gilbert E. McNeill
Download or read book The Natural Rate Hypothesis, Hysteresis, and the U.S. Employment Experience written by Gilbert E. McNeill and published by . This book was released on 1992 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does Unemployment Hysteresis Falsify the Natural Rate Hypothesis? A Meta-Regression Analysis by : Tom Stanley
Download or read book Does Unemployment Hysteresis Falsify the Natural Rate Hypothesis? A Meta-Regression Analysis written by Tom Stanley and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quantitative survey of 24 studies containing 99 national estimates of unemployment persistence reinstates unemployment hysteresis as a viable falsifying hypothesis to the natural rate hypothesis. Empirical evidence to the contrary may be attributed to small-sample, misspecification and publication biases. Larger estimates of unemployment persistence are produced by models that use more information (t= 9.03; P
Book Synopsis The Natural Rate Versus the Hysteresis Hypothesis by : Rod Cross
Download or read book The Natural Rate Versus the Hysteresis Hypothesis written by Rod Cross and published by . This book was released on 1989 with total page 15 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 Persistence of Unemployment by : Stephen R.G. Jones
Download or read book Persistence of Unemployment written by Stephen R.G. Jones and published by McGill-Queen's Press - MQUP. This book was released on 1995-11-01 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deep recession and slow recovery of the Canadian economy in the 1980s and the lengthy recession of the early 1990s raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some economists to doubt the traditional view that the national economy is by nature self-correcting and to endorse the concept of hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis would have important and far-reaching implications for economic policy, particularly monetary policy. Jones provides an overview of leading theories of hysteresis and examines international and Canadian evidence from both microeconomic and macroeconomic perspectives. He extends the econometric analysis of hysteresis at both the micro and macro levels and concludes that while there is some evidence of dependence in Canada, the overall picture is not one of hysteresis.
Book Synopsis Some Evidence on Hysteresis in Unemployment Rates by : Albert Jaeger
Download or read book Some Evidence on Hysteresis in Unemployment Rates written by Albert Jaeger and published by . This book was released on 1991 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Testing for Hysteresis in Unemployment by : Albert Jäger
Download or read book Testing for Hysteresis in Unemployment written by Albert Jäger and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Long-term Unemployment, Hysteresis and the Natural Rate of Unemployment by : Rodney Cross
Download or read book Long-term Unemployment, Hysteresis and the Natural Rate of Unemployment written by Rodney Cross and published by . This book was released on 1981 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hysteresis in Labor Markets? Evidence from Professional Long-Term Forecasts by : Mr.John C Bluedorn
Download or read book Hysteresis in Labor Markets? Evidence from Professional Long-Term Forecasts written by Mr.John C Bluedorn and published by International Monetary Fund. This book was released on 2019-05-24 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the long-term impact of economic booms on labor market outcomes using a novel approach based on revisions to professional forecasts over the past 30 years for 34 advanced economies. We find that when employment rises unexpectedly, forecasters typically raise their long-term forecasts of employment by more than one-for-one and also expect a strong rise in labor force participation, suggesting more persistent effects than is traditionally assumed. Economic booms associated with changes in aggregate demand, when inflation is rising and unemployment falling unexpectedly, also come with persistent long-term effects on expected employment and labor force participation, suggesting positive hysteresis. Our forecast evaluation tests indicate that forecasters are, on average, unbiased in their assessment of these positive, persistent effects.
Book Synopsis Hysteresis Vs. Natural Rate of US Unemployment by :
Download or read book Hysteresis Vs. Natural Rate of US Unemployment written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hysteresis and the Natural Rate of Unemployment by : Central Bank of Ireland (1943-2003)
Download or read book Hysteresis and the Natural Rate of Unemployment written by Central Bank of Ireland (1943-2003) and published by . This book was released on 1988 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A History of Macroeconomics from Keynes to Lucas and Beyond by : Michel De Vroey
Download or read book A History of Macroeconomics from Keynes to Lucas and Beyond written by Michel De Vroey and published by Cambridge University Press. This book was released on 2016-01-08 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Book Synopsis Phelps, Hysteresis and the Natural Rate of Unemployment by : Rod Cross
Download or read book Phelps, Hysteresis and the Natural Rate of Unemployment written by Rod Cross and published by . This book was released on 1983 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Some Further Evidence on Hysteresis in Unemployment Rates by : Bengt Assarsson
Download or read book Some Further Evidence on Hysteresis in Unemployment Rates written by Bengt Assarsson and published by . This book was released on 1995 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
