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control variables and show larger effects than LMI. -- Unemployment ; NAIRU ; capital accumulation ; labour market …According to the mainstream view, labour market institutions (LMI) are the key determinants of unemployment in the … insufficient capital accumulation responsible for unemployment (Arestis et al 2007). Empirical work in this tradition has paid …
Persistent link: https://www.econbiz.de/10003779645
According to the mainstream view, labour market institutions (LMI) are the key determinants of unemployment in the … insufficient capital accumulation responsible for unemployment (Arestis et al 2007). Empirical work in this tradition has paid … capital accumulation as a macroeconomic shock. In the empirical analysis, medium-term unemployment is explained by capital …
Persistent link: https://www.econbiz.de/10004963721
Persistent link: https://www.econbiz.de/10009247472
According to the mainstream view, labour market institutions (LMI) are the key determinants of unemployment in the … insufficient capital accumulation responsible for unemployment (Arestis et al 2007). Empirical work in this tradition has paid … capital accumulation as a macroeconomic shock. In the empirical analysis, medium-term unemployment is explained by capital …
Persistent link: https://www.econbiz.de/10014206776
profession abandoned the Keynesian Phillips curve and adopted Milton Friedman's natural rate of unemployment (NRU) hypothesis …
Persistent link: https://www.econbiz.de/10011926941
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 equation for unemployment has richer dynamic structure. The empirical …
Persistent link: https://www.econbiz.de/10009787067
Electoral support for social democracy in Western Europe is in free fall. The implosion of social democracy is largely self- inflicted, because 'Third Way' social democracy alienated its traditional supporters by (a) a deliberate move to the non- reformist, status-quo oriented macroeconomics of...
Persistent link: https://www.econbiz.de/10013175133
the labor market and analyze the transmission of the shocks to the natural rate of unemployment and production. In a first …
Persistent link: https://www.econbiz.de/10014310081
Persistent link: https://www.econbiz.de/10012289227
of the official rate of unemployment to fully account for labor underutilization, in this paper we offer estimates of … Okun’s law both with broad unemployment indicators and with an indicator of ‘standardized hours worked’ which we propose as …
Persistent link: https://www.econbiz.de/10013213022