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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: 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: Ms.Helene Poirson Ward
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451852752
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
This study seeks to explain economic growth differences in an aggregate production function framework, where labor reallocation from agriculture to modern sectors influences labor efficiency growth. The econometric analysis uses a panel of 65 countries over 1960-90. The results highlight: (a) the differences in labor reallocation impact on growth, controlled for using the intersectoral wedge in labor productivities; (b) the significance of labor reallocation effects, even after controlling for capital accumulation, initial conditions, and country effects; (c) the role of slow labor reallocation in explaining the dummy variable for Sub-Saharan Africa; (d) the role of initial education levels in explaining differences in labor reallocation rates.
Author: Cem Karayalcin
Publisher: International Monetary Fund
ISBN: 1484350057
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
The process of economic development is characterized by substantial reallocations of resources across sectors. In this paper, we construct a multi-sector model in which there are barriers to the movement of labor from low-productivity traditional agriculture to modern sectors. With the barrier in place, we show that improvements in productivity in modern sectors (including agriculture) or reductions in transportation costs may lead to a rise in agricultural employment and through terms-oftrade effects may harm subsistence farmers if the traditional subsistence sector is larger than a critical level. This suggests that policy advice based on the earlier literature needs to be revised. Reducing barriers to mobility (through reductions in the cost of skill acquisition and institutional changes) and improving the productivity of subsistence farmers needs to precede policies designed to increase the productivity of modern sectors or decrease transportation costs.
Author: International Assessment of Agricultural Knowledge, Science, and Technology for Development (Project)
Publisher: Iaastd
ISBN:
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
The International Assessment of Agricultural Knowledge, Science, and Technology for Development (IAASTD) looks realistically at how we could effectively use agriculture/AKST to help us meet development and sustainability goals. An unprecedented three-year collaborative effort, the IAASTD involved more than 400 authors in 110 countries and cost more than $11 million. It reports on the advances and setbacks of the past fifty years and offers options for the next fifty years. The results of the project are contained in seven reports: a Global Report, five regional Sub-Global Assessments, and a Synthesis Report. The Global Report gives the key findings of the Assessment, and the five Sub-Global Assessments address regional challenges. The volumes present options for action. All of the reports have been extensively peer-reviewed by governments and experts and all have been approved by a panel of participating governments. The Sub-Global Assessments all utilize a similar and consistent framework: examining and reporting on the impacts of AKST on hunger, poverty, nutrition, human health, and environmental/social sustainability. The five Sub-Global Assessments cover the following regions: Central and West Asia and North Africa (CWANA) East and South Asia and the Pacific (ESAP) Latin America and the Caribbean (LAC) North America and Europe (NAE) Sub-Saharan Africa (SSA)
Author: Kwang Suk Kim
Publisher: BRILL
ISBN: 1684172195
Category : History
Languages : en
Pages : 224
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Book Description
This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Author: Rebecca Emigh
Publisher: Temple University Press
ISBN: 1592136192
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
In The Undevelopment of Capitalism, Emigh argues that the expansion of the Florentine economic market in the fifteenth century helped to undo the development of markets of other economies--especially the rural economy of Tuscany. As this highly developed urban market penetrated rural regions, it actually erased rural market institutions that rural inhabitants had used to organize agricultural production and family life. Thus, an advanced economy at the time of the late Middle Ages and early Renaissance "undeveloped" over time. The economic development of this region in Italy was delayed as it failed to keep pace with the rest of Europe. Using a negative case methodology to show how urban and rural markets change, Emigh employs methods of historical sociology and sectoral theories to examine how markets can prosper and suffer at the same time. She shows how sectoral relations are crucial to transitions to capitalism and how capitalist development can also contract markets.
Author: Yunbo Zhou
Publisher: Springer Science & Business Media
ISBN: 3642249515
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
The subject of this book is discussing the income inequality of Chinese residents, its change and the factors that impact it. In this book all kinds of quantitative methods, including decomposing Gini Coefficients method, Fei-Ranis method, two-sectors model and other econometric models. Some special features are that in this book, a two-sectors model was set up to analyze the impact of population migration from urban areas to rural areas on income inequality of total residents, and the inverted U hypothesis was tested by time-series regression model. The inverted U hypothesis is supported by the change of income inequality of Chinese total residents which is different from the conclusion of present reaches. In additional, the impact of rent-seeking income on inequality was discussed, an economic mode was founded to explain the causes of rent-seeking activities in China’s present stage.
Author: John Knight
Publisher: Oxford University Press
ISBN: 0199698694
Category : Business & Economics
Languages : en
Pages : 355
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Book Description
China's economy has been growing at ten per cent per annum for the last three decades. This book considers one of the biggest questions facing contemporary economists: why and how is the Chinese economy growing so fast?
Author: Pierella Paci
Publisher: World Bank Publications
ISBN: 0821371088
Category : Social Science
Languages : en
Pages : 148
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Book Description
There is one asset that poor people have in abundance: labor. Thus, what distinguishes the poor from the non-poor in low income countries is, simply, their ability to sell labor at a good price. It should be of little surprise, then, that enhancing the poor's access to employment is increasingly recognized as key to development. But while the creation of "good" jobs for the poor has become a policy priority for many developing countries, the mechanisms by which employment stimulates growth and reduces poverty have, until now, not been well understood. This book aims to help fill that.
Author: Vernon W. Ruttan
Publisher: Oxford University Press
ISBN: 0199754357
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
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