The Persistence of Slack and Tight Labor Markets PDF Download
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Author: Karl Ove Moene
Publisher:
ISBN: 9788257091361
Category :
Languages : en
Pages : 25
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Book Description
Author: Karl Ove Moene
Publisher:
ISBN: 9788257091361
Category :
Languages : en
Pages : 25
Get Book Here
Book Description
Author: Karl Ove Moene
Publisher:
ISBN: 9788257090784
Category :
Languages : en
Pages : 33
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Book Description
Author: Karl Ove Moene
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 50
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Book Description
Author: Katherine S. Newman
Publisher: Univ of California Press
ISBN: 0520379101
Category : Business & Economics
Languages : en
Pages : 376
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Book Description
"Most research on poverty focuses on the damage that persistent unemployment causes for individuals, families, and neighborhoods. But what happens when jobs are plentiful and workers are hard to come by? Persistent labor shortages became the norm in 2022, but there have been a number of periods in American history where tight labor markets prevailed. Moving the Needle examines what happens when conditions favorable to workers create market pressures that boost wages at the bottom, improve benefits, pull the unemployed from the sidelines to the center of a burgeoning job market, lengthen job ladders, and dampen credentialism. Utilizing 79 years of quantitative and historical data, as well as fieldwork among employers, jobseekers, and long-time residents of poor neighborhoods, this book explores how profoundly positive tight labor markets are for labor and recommends policies that would keep that momentum moving when the conditions that spur it forward no longer hold"--
Author: Nordic Council of Ministers
Publisher: Nordic Council of Ministers
ISBN: 9789289302579
Category : Employment stabilization
Languages : en
Pages : 224
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Book Description
Author: Alex Domash
Publisher:
ISBN:
Category : COVID-19 Pandemic, 2020-
Languages : en
Pages :
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Book Description
Since the outset of the Covid-19 pandemic, labor market indicators that traditionally move together have been sending different signals about the degree of slack in the U.S. labor market. While some indicators on the supply-side, such as the prime-age employment-to-population ratio, suggest that there is still some slack in the labor market, other indicators on the demand-side, such as the job vacancy rate and the quits rate, imply that the labor market is already very tight. In light of these divergent signals, this paper compares alternative labor market indicators as predictors of wage inflation. Using national time series and state cross-section data, we find (i) unemployment is a better predictor of wage inflation than non-employment and (ii) vacancy rates and quit rates have substantial predictive power for wage inflation. We highlight the fact that vacancy and quit rates currently experienced in the United States correspond to a degree of labor market tightness previously associated with sub-2 percent unemployment rates. Finally, we show that predicted firm-side unemployment has dominant explanatory power with respect to subsequent inflation. Our results, along with a cursory analysis of labor force participation information, suggest that labor market tightness is likely to contribute significantly to inflationary pressure in the United States for some time to come.
Author: Tryggvi Gudmundsson
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
We study the global inflation surge during the pandemic recovery and the implications for aggregate and sectoral Phillips curves. We provide evidence that Phillips curves shifted up and steepened across advanced economies, and that differences in the inflation response across sectors imply the relative price of goods has been pro-cyclical this time around rather than a-cyclical as during previous cycles. We show analytically that these three features emerge endogenously in a two-sector new-Keynesian model when we introduce unbalanced recoveries that run against a supply constraint in the goods sector. A calibrated exercise shows that the resulting changes to the output-inflation relation are quantitatively important and improve the model's ability to replicate the inflation surge during this period.
Author: Mr.John C Bluedorn
Publisher: International Monetary Fund
ISBN: 1498315690
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
We explore the long-term impact of economic booms on labor market outcomes using a novel approach based on revisions to professional forecasts over the past 30 years for 34 advanced economies. We find that when employment rises unexpectedly, forecasters typically raise their long-term forecasts of employment by more than one-for-one and also expect a strong rise in labor force participation, suggesting more persistent effects than is traditionally assumed. Economic booms associated with changes in aggregate demand, when inflation is rising and unemployment falling unexpectedly, also come with persistent long-term effects on expected employment and labor force participation, suggesting positive hysteresis. Our forecast evaluation tests indicate that forecasters are, on average, unbiased in their assessment of these positive, persistent effects.
Author: Katherine S. Newman
Publisher: Harvard University Press
ISBN: 9780674023369
Category : Business & Economics
Languages : en
Pages : 428
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Book Description
Now that the welfare system has been largely dismantled, the fate of America's poor depends on what happens to them in the low-wage labor market. In this timely volume, Katherine S. Newman explores whether the poorest families benefited from the tight labor markets and good economy in the late 1990s. More than a story of the shifting fortunes of the labor market, "Chutes and Ladders" asks probing questions about the motivations of low-wage workers, the dreams they have, and their understanding of the rules of the game.
Author: Estefania Cohn-Bech
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
Though high and rising inflation has been a challenge for most economies across Europe in 2022 and into 2023, it has accelerated in Hungary to the highest level in Europe. This paper examines how and why Hungary reached historically high inflation. It draws on an augmented Phillips Curve to estimate the impact of common drivers of inflation, examines the role of labor market tightness and policy stances, and analyzes possible changes to the degree of exchange rate pass-through in recent years. Overall, a rapid recovery from the COVID-19 crisis, a series of exogenous shocks, and too loose a policy mix fueled inflation to its highest level in decades. Though monetary and fiscal policies are now tightening, regulatory price caps undermine those efforts. Going forward, a consistently and persistently tight overall policy mix is needed to drive inflation back to the central bank’s target.
