Showing 1 - 10 of 16
The aim of the paper is to contrast and test the NAIRU theory and the Keynesian theory of unemployment econometrically. For the former, wage push variables are key in explaining the rise of European unemployment, for the latter accumulation is. The theories are tested using time series data for...
Persistent link: https://www.econbiz.de/10005817164
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/10010265039
The natural rate hypothesis states that there exists an unemployment rate at which inflation is stable, and that this unemployment rate is independent of aggregate demand shocks. The hysteresis hypothesis, in contrast, states that the long run unemployment rate can be affected by aggregate...
Persistent link: https://www.econbiz.de/10012154146
This paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run, the private effective labour demand need not be downward sloping because of debt deflation and wage-led demand regimes. In the medium run, the NAIRU will be endogenous because of the social...
Persistent link: https://www.econbiz.de/10014363208
The aim of the paper is to compare the NAIRU hypothesis regarding ­European unemployment and a Keynesian approach to the issue and to evaluate them econometrically. For the NAIRU explanation, wage push variables are key in explaining the rise of European unemployment, for a Keynesian approach...
Persistent link: https://www.econbiz.de/10005482706
This paper 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...
Persistent link: https://www.econbiz.de/10010460466
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/10004963721
Der Fordismus, das Akkumulationsregime der Nachkriegszeit, das auf einem impliziten Kompromiss zwischen Kapital und Arbeit basierte, war durch einen regulierten Finanzsektor und durch niedrige reale Zinsen gekennzeichnet war, kam in den 70er Jahren in die Krise. Mit der Neo-Konservativen...
Persistent link: https://www.econbiz.de/10005222899
The paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run the private effective labour demand need not be downward sloping because of debt deflation and wage-led demand regimes. In the medium run the NAIRU will be endogenous because of the social norm...
Persistent link: https://www.econbiz.de/10011132886
This paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run, the private effective labour demand need not be downward sloping because of debt deflation and wage-led demand regimes. In the medium run, the NAIRU will be endogenous because of the social...
Persistent link: https://www.econbiz.de/10011133412