Employment and the Great Recession PDF Download
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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: 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: Andres Drobny
Publisher: Routledge
ISBN: 113498801X
Category : Business & Economics
Languages : en
Pages : 248
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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 wit
Author: Paul Howard Douglas
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 728
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Book Description
Author: Robert Gausden
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 47
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Book Description
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: John Huizinga
Publisher:
ISBN:
Category : Unemployment
Languages : en
Pages : 344
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Book Description
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: Andrès Drobny
Publisher:
ISBN: 9780203263785
Category :
Languages : en
Pages :
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Book Description
Author: Andrès Drobny
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
