Business Cycle Characteristics of the Australian Labour Market with an Endogenous Participation Rate PDF Download
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Author: Andrew Evans
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 76
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Book Description
We use a SVAR model to analyse gross flows of workers between the states of employment, unemployment and non-participation in the Australian labour market. We determine the cyclicality of stocks, gross flows and state transition rates by examining their responses to business cycle shocks. We use the derived cyclicality of transition rates to characterise labour force inflows and outflows as being consistent in aggregate with either the Discouraged-Worker Effect or the Added-Worker Effect. We find evidence that the total participation rate is procyclical which means that the Discouraged-Worker Effect is dominant overall, but also find that the Added-Worker Effect is dominant in several particular types of transition. We also apply shocks to gross flows between employment and unemployment and find that unemployment inflows are more important than outflows to the evolution of the unemployment rate. We find that participation decisions make only a small contribution to unemployment relative to flows between employment and unemployment.
Author: Andrew Evans
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 76
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Book Description
We use a SVAR model to analyse gross flows of workers between the states of employment, unemployment and non-participation in the Australian labour market. We determine the cyclicality of stocks, gross flows and state transition rates by examining their responses to business cycle shocks. We use the derived cyclicality of transition rates to characterise labour force inflows and outflows as being consistent in aggregate with either the Discouraged-Worker Effect or the Added-Worker Effect. We find evidence that the total participation rate is procyclical which means that the Discouraged-Worker Effect is dominant overall, but also find that the Added-Worker Effect is dominant in several particular types of transition. We also apply shocks to gross flows between employment and unemployment and find that unemployment inflows are more important than outflows to the evolution of the unemployment rate. We find that participation decisions make only a small contribution to unemployment relative to flows between employment and unemployment.
Author: Keith Norris
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Author: Christian Haefke
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
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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.
Author: Guy Debelle
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 380
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Book Description
Unemployment and the Australian labour market.
Author: Shahram Akbarzadeh
Publisher: Academic Monographs
ISBN: 0522857167
Category : Muslim women
Languages : en
Pages : 206
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Book Description
"Muslim women in Australia are at the forefront of a culture war, and not necessarily by choice. As visible representatives of Islam, veiled women face discrimination and abuse, and carry the stigma of a culture frequently deemed unacceptable and inferior. Despite these adverse conditions, Muslim women have demonstrated a remarkable resilience by maintaining their presence in the public domain and by continuing to make a positive contribution to Australia. The experiences of Muslim women in Australia cannot be typecast as a sisterhood of oppressed females. Challenging Identities questions the assumption of incompatible 'Australian values' and 'Islamic values', and provides valuable first-person accounts from the lives of Muslim women in Australia."--Publisher description.
Author: Sónia Félix
Publisher: International Monetary Fund
ISBN: 1513521519
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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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.
Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author: Jaap Koning
Publisher: Edward Elgar Publishing
ISBN: 9781781953013
Category : Political Science
Languages : en
Pages : 424
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Book Description
This book argues that active labour market policies are necessary to improve the position of the unemployed but have so far performed relatively poorly. The contributing authors seek ways to improve active labour market policy and consider three means of doing so: improving the quality by better targeting and by better-designed measures, more efficient implementation and delivery, and better performance by benchmarking the various implementation agencies involved.
