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Author: Reva Krieger
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 60
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Book Description
Author: Reva Krieger
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 60
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Book Description
Author: Reva Krieger
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Author: Sangyup Choi
Publisher: International Monetary Fund
ISBN: 1498356303
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
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.
Author: S. Lael Brainard
Publisher:
ISBN:
Category : Rate of return
Languages : en
Pages : 80
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Book Description
This paper examines the importance of sectoral reallocation and cyclical unemployment; in the postwar US economy. It develops a new measure of reallocation shocks based on the variance of industry stock market excess returns over time, termed cross section volatility. Data on unemployment and vacancies is used to establish that the cross section volatility series is effective in isolating reallocation shocks. The series is then used to measure the contribution of reallocation shocks to aggregate unemployment and to unemployment; of varying durations. On average, about 40 percent of aggregate unemployment is explained by reallocation, but much of the variance of unemployment through time is better explained by cyclical shocks. Reallocation shocks account; for a relatively larger share of long duration unemployment.
Author: Mark Patrick Moore
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Author: Reuven Glick
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 70
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Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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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.
Author: Zahra Bakhshi
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
Unemployment is one of the problems that global economics, especially the economy of developing countries such as Iran is faced with. Therefore, there have been many studies to investigate the variables which affect unemployment in macroeconomics. Considering exchange rate volatility in recent years which have affected most of major variables of economy in Iran, this study tried to investigate the relationship between exchange rate and unemployment in Iran using the annual data of 30 years (from 1981 to 2012). To achieve the objectives of the study, autoregressive econometric model with distributed lag was used to assess the relationship between real exchange rate and unemployment. This model consisted of five main variables, namely unemployment rate, exchange rate, export, import, and gross domestic product. The results of the study demonstrated that economic growth had a significant and positive effect on unemployment. In addition, it was shown that there was a negative relationship between unemployment and exchange rate.
Author: Hans Lindblad
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
A common assumption when analysing unemployment is that the economy is closed. However, the equilibrium rate of unemployment is not identified in an open economy unless the foreign sector is modeled. Therefore we set up and estimate a structural unobserved components open economy model for the unemployment rate and the real exchange rate. This approach enables us to simultaneously determine changes in both cyclical and equilibrium rates in these two variables. The results indicate that the dramatic changes in the Swedish unemployment rate during the 1990s is mainly a cyclical phenomenon. The development of the exchange rate is mainly driven by terms of trade and government deficits.
Author: Prakash Loungani
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 74
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