Author: Michael T. KileyPublisher:
ISBN:
Category : Prices
Languages : en
Pages : 28
Book Description
Efficiency Wages, Nominal Rigidities, and the Cyclical Behavior of Real Wages and Marginal Cost
Author: Michael T. KileyPublisher:
ISBN:
Category : Prices
Languages : en
Pages : 28
Book Description
Nominal Wage Rigidity and Real Wage Cyclicality
Author: Marcello M. EstevaoPublisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 26
Book Description
Wages in the Business Cycle
Author: Jonathan MichiePublisher: Burns & Oates
ISBN:
Category : Business & Economics
Languages : en
Pages : 216
Book Description
Employment Cost Index and Employee Benefits Survey
Author: Publisher:
ISBN:
Category : Charts, diagrams, etc
Languages : en
Pages : 16
Book Description
Hysteresis and Business Cycles
Author: Ms.Valerie CerraPublisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
Book Description
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.
The Labor Market and Economic Adjustment
Author: Pierre-Richard AgénorPublisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
Book Description
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Efficiency Wage Models of the Labor Market
Author: George A. AkerlofPublisher: Cambridge University Press
ISBN: 9780521312844
Category : Business & Economics
Languages : en
Pages : 196
Book Description
The contributors explore the reasons why involuntary unemployment happens when supply equals demand.
Optimal Unemployment Insurance
Author: Andreas PollakPublisher: Mohr Siebeck
ISBN: 9783161493041
Category : Business & Economics
Languages : en
Pages : 204
Book Description
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.
Technology Shocks and Aggregate Fluctuations
Author: Mr.Pau RabanalPublisher: International Monetary Fund
ISBN: 1451875657
Category : Business & Economics
Languages : en
Pages : 68
Book Description
Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Author: