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Author: Mr.Bas B. Bakker
Publisher: International Monetary Fund
ISBN: 151350410X
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many countries, post-2007 employment losses were modest, as real wages adjusted when the economy slowed down. But in some countries real wage growth stayed too high for too long. The result was large-scale labor shedding, which boosted labor productivity but also contributed to a sharp rise in unemployment. In this context, the paper discusses the different experiences of the UK (where employment increased) and Spain (where it fell sharply), and finds that almost two thirds of the employment losses in Spain resulted from the failure of real wages to adjust adequately.
Author:
Publisher:
ISBN:
Category : Wages
Languages : en
Pages : 8
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Book Description
Author: Paul Howard Douglas
Publisher: Boston : Houghton Mifflin
ISBN:
Category : Cost and standard of living
Languages : en
Pages : 728
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Book Description
Author: Mr.Bas B. Bakker
Publisher: International Monetary Fund
ISBN: 151350410X
Category : Business & Economics
Languages : en
Pages : 60
Get Book Here
Book Description
This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many countries, post-2007 employment losses were modest, as real wages adjusted when the economy slowed down. But in some countries real wage growth stayed too high for too long. The result was large-scale labor shedding, which boosted labor productivity but also contributed to a sharp rise in unemployment. In this context, the paper discusses the different experiences of the UK (where employment increased) and Spain (where it fell sharply), and finds that almost two thirds of the employment losses in Spain resulted from the failure of real wages to adjust adequately.
Author: Isaac Max Rubinow
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
Author: Andres Drobny
Publisher: Routledge
ISBN: 1134988028
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
With both Monetarist and Keynesian economic theory so closely bound up with employment levels and inflation, the contrast between the two models is here given thorough examination in light of real post-war data. Following the development of Monetarism as a reaction against Keynesian analysis, Drobny focuses on the importance of relative pricing within each approach as a basis for comparison. Drawing from both theories, the author forms models of labour demand and applies the conflicting results to a series of pragmatic tests, thereby highlighting the usefulness and the limitations of each standpoint.
Author: Albert Rees
Publisher: Princeton University Press
ISBN: 1400879779
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
Previous wage studies of the period before World War I found that real wages remained stable from 1890 to 1914 despite the continued growth of the economy. This study indicates that this conclusion was based on faulty statistics. Using new estimates of money wages and a new cost-of-living index, Mr. Rees shows that real wages rose considerably in this period, although less than in later years. His findings will require revision of the prevailing viewpoint. Originally published in 1961. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: John Huizinga
Publisher:
ISBN:
Category : Unemployment
Languages : en
Pages : 344
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Book Description
Author: Robert Gausden
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 47
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Book Description
Author: Stephen J. Nickell
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 42
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Book Description
Author: Patrick T. Geary
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 82
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Book Description
