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The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages

Keane, Michael P. - 1993

This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same...

Persistent link: https://www.econbiz.de/10014396186

Structural transformation and the volatility of aggregate output in OECD countries

Ngouana, Constant Lonkeng - 2013

Persistent link: https://www.econbiz.de/10009706788

Trade Costs, Market Integration, and Macroeconomic Volatility

Naknoi, Kanda - 2003

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two … variability of the trade balance should increase. Trade costs have ambiguous effects on the volatility of other macro variables …

Persistent link: https://www.econbiz.de/10014403962

Structural Transformation and the Volatility of Aggregate Output in OECD Countries

Ngouana, Constant Lonkeng - 2013

This paper finds a negative relationship between the employment share of the service sector and the volatility of … aggregate output in the OECD—after controlling for the level of financial development. This result reflects volatility … sector. I examine the quantitative role of these labor shifts—termed structural transformation—on the volatility of aggregate …

Persistent link: https://www.econbiz.de/10014395386

Precautionary savings in the Great Recession

Mody, Ashoka; Ohnsorge, Franziska; Sandri, Damiano - 2012

Persistent link: https://www.econbiz.de/10009572544

Creative destruction during crises : an opportunity for a cleaner energy mix

Deb, Pragyan; Furceri, Davide; Ostry, Jonathan David; … - 2021

Lockdowns resulting from the COVID-19 pandemic have reduced overall energy demand but electricity generation from renewable sources has been resilient. While this partly reflects the trend increase in renewables, the empirical analysis presented in this paper highlights that recessions result in...

Persistent link: https://www.econbiz.de/10012795098

Non-linearities in fiscal policy : the role of debt

Fotiou, Alexandra - 2020

Empirical evidence shows that fiscal multipliers depend on the state of the cycle, the nature of fiscal policy and the level of debt. In other words, evidence points to non-linearities in the effects of fiscal policy. This paper provides a framework to examine the role of the level of government...

Persistent link: https://www.econbiz.de/10012392585

What shapes current account adjustment during recessions?

Kolerus, Christina Elisabeth - 2021

This paper studies the dynamics of external accounts during 278 economic recession events in the past 60 years and sheds light on key factors that shape these patterns. Economic recessions trigger highly-persistent increases in the current account, driven by an initial, sharp decline in...

Persistent link: https://www.econbiz.de/10012605536

Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in Oecd Countries? : Some Empirical Evidence

Vanhoudt, Patrick - 1997

Income distribution may be related to fundamentals affecting economic growth and to labor market policies. Noting that inequality is affected by unemployment. This paper presents a model in which labor market policies affect unemployment which in turn affects inequality. The model also includes...

Persistent link: https://www.econbiz.de/10014403314

Precautionary Savings in the Great Recession

Mody, Ashoka - 2012

Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a panel of advanced economies that greater labor income...

Persistent link: https://www.econbiz.de/10014396946