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I adopt Ball's (1999) cross-sectional approach to test for unemployment hysteresis to panel data. Long-run unemployment is explained with standard institutional controls, and proxies for monetary and fiscal policy reactions in recessions. The sample consists of 20 OECD countries for the period...
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This article investigates the hypothesis that the extent to which hysteresis occurs in the aftermath of recessions depends on monetary policy reactions. The degree of hysteresis is explained econometrically by the extent of monetary easing during a recession and by standard variables for labour...
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Die in vielen Ländern gewachsene Einkommensungleichheit wird international zunehmend als eine wesentliche Ursache für die Weltwirtschaftskrise und die globalen Ungleichgewichte im Außenhandel hervorgehoben. Hingegen ist die Debatte in Deutschland teilweise noch immer durch die Forderung nach...
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