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What's "structural" about unemployment in Europe : on the determinants of the European Commission's NAIRU estimates

Heimberger, Philipp; Kapeller, Jakob; Schütz, Bernhard - 2016

This paper analyzes the determinants of the European Commission's NAIRU estimates for 14 European OECD countries during … 1985-2012. The NAIRU is a poor proxy for 'structural unemployment': Labor market institutions - employment protection … legislation, union density, tax wedge, minimum wages - underperform in explaining the NAIRU, while cyclical variables - capital …

Persistent link: https://www.econbiz.de/10011779361

Does it matter when labor market reforms are implemented? : the role of the monetary policy environment

Lastauskas, Povilas; Stakénas, Julius - 2019

Do labor market reforms initiated in periods of loose monetary policy yield different outcomes from those that were introduced in periods when monetary tightening prevailed? Since economic theory usually pays attention to the steady state change and ignores business cycle interactions of...

Persistent link: https://www.econbiz.de/10012103994

Reforming the labor market and improving competitiveness : an analysis for Spain using FiMod

Schwarzmüller, Tim; Stähler, Nikolai - In: SERIEs : Journal of the Spanish Economic Association 4 (2013) 4, pp. 437-471

This paper uses an extended version of “FiMod—A DSGE Model for Fiscal Policy Simulations” (Stähler and Thomas Econ Model 29:239–261, 2012) with endogenous job destruction decisions by private firms to analyze the effects of several currently discussed labor market reforms on the Spanish...

Persistent link: https://www.econbiz.de/10010223397

Reforming the Labor Market and Improving Competitiveness : An Analysis for Spain Using Fimod

Schwarzmüller, Tim - 2016

This paper uses an extended version of 'FiMod - A DSGE Model for Fiscal Policy Simulations' (Stähler and Thomas, 2011) with endogenous job destruction decisions by private firms to analyze the effects of several currently discussed labor market reforms on the Spanish economy. The main focus is...

Persistent link: https://www.econbiz.de/10012991021

The Impact of Tax, Product and Labour Market Distortions on the Phillips Curve and the Natural Rate of Unemployment

Bokan, Nikola - 2010

Most people accept that structural and labour market reforms are needed in Europe. However few have been undertaken. The usual conjecture is that reforms are costly in economic performance and costly to finance. Blanchard and Giavazzi (2003) and Spector (2004) develop a general equilibrium model...

Persistent link: https://www.econbiz.de/10013135626

Capital Accumulation, Labour Market Institutions, and Unemployment in the Medium Run

Stockhammer, Engelbert; Klaer, Erik - 2009

According to the mainstream view, labour market institutions (LMI) are the key determinants of unemployment in the medium run. The actual empirical explanatory power of measures for labour market institutions, however, has been called into question recently (Baker et al 2005, Baccaro and Rei...

Persistent link: https://www.econbiz.de/10014206776

Equilibrium unemployment dynamics in a panel of OECD countries

Nymoen, Ragnar; Sparrman, Victoria - 2013 - This version July 11, 2013

We focus on the equilibrium unemployment rate as a parameter implied by a dynamic aggregate model of wage- and price setting. The equilibrium unemployment rate depends on institutional labour market institutions through mark-up coefficients. Compared to existing studies, the resulting final...

Persistent link: https://www.econbiz.de/10009787067

Lessons for forecasting unemployment in the United States : use flow rates, mind the trend

Meyer, Brent; Tasci, Murat - 2015

This paper evaluates the ability of autoregressive models, professional forecasters, and models that incorporate unemployment flows to forecast the unemployment rate. We pay particular attention to flows-based approaches - the more reduced-form approach of Barnichon and Nekarda (2012) and the...

Persistent link: https://www.econbiz.de/10010484066

Neues von der NAIRU?

Franz, Wolfgang - 2000

Der Beitrag enthält eine Neuschätzung der inflationsstabilen Arbeitslosenquote (NAIRU) für Westdeutschland 1980 bis … 1998. Nach einer Darstellung des konzeptionellen Rahmens der NAIRU einschließlich verschiedener Varianten, welche … Probleme. Erstmalig werden für Westdeutschland dann eine zeitvariable NAIRU mit Hilfe des Kalman-Verfahrens sowie dazugehöriger …

Persistent link: https://www.econbiz.de/10011444884

Unemployment rate benchmarks

Crump, Richard K.; Nekarda, Christopher J.; … - 2020

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for assessing the current state of the economy as it relates to the pursuit of both price stability and maximum employment. In particular, we propose two broad categories of...

Persistent link: https://www.econbiz.de/10012389411