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Unemployment in the European Union : a dynamic reappraisal

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...

Persistent link: https://www.econbiz.de/10011412080

Euro, crisis and unemployment : youth patterns, youth policies?

Ghoshray, Atanu; Ordóñez, Javier; Sala, Hector - 2016

This paper examines the occurrence of structural breaks in European unemployment associated with major events experienced by the European economies at an institutional level: the creation of the European and Monetary Union (EMU) in 1999, and the Euro/financial crisis in 2008-2009, which was...

Persistent link: https://www.econbiz.de/10011476560

Unemployment, growth and fiscal policy : new insights on the hysteresis hypothesis

Raurich-Puigdevall, Xavier (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002035720

Unemployment in the European Union : institutions, prices, and growth

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001800159

Real unit labour costs in Eurozone countries : drivers and clusters

Ordóñez, Javier; Sala, Hector; Silva, José Ignacio - 2014

We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong asymmetries in the convergence process of the RULCs and its components - real wages, capital intensity, and technology - are uncovered through decomposition and cluster analyses. In the...

Persistent link: https://www.econbiz.de/10010369774

The effects of globalization and technology on the elasticity of substitution

Sala, Hector; Trivín, Pedro - 2017

, in contrast, that σ is affected by both globalization and technology, and that different intensities in these drivers … substitution between capital and labor is below unity; that it increases along with the degree of globalization; but it decreases …-output ratio on the labor share irrespective of the degree of globalization (which would be consistent with an average aggregate …

Persistent link: https://www.econbiz.de/10011704348

Global inflation synchronization

Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2019

We study the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. Our methodology allows us to account for differences across groups of countries (advanced economies and emerging market and developing economies) and to analyze...

Persistent link: https://www.econbiz.de/10011980916

Global macro-financial cycles and spillovers

Ha, Jongrim; Kose, M. Ayhan; Otrok, Christopher M.; … - 2020

We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...

Persistent link: https://www.econbiz.de/10012178610

Global recessions

Kose, M. Ayhan; Sugawara, Naotaka; Terrones, Marco E. - 2020

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global GDP contracted, and this contraction was accompanied by weakening of other key indicators of global economic activity....

Persistent link: https://www.econbiz.de/10012159612

Global macro-financial cycles and spillovers

Ha, Jongrim; Kose, M. Ayhan; Otrok, Christopher M.; … - 2020 - This version: February 2020

Persistent link: https://www.econbiz.de/10012170616