Search results for "UNEMPLOYMENT"
showing 10 items of 312 documents
Unemployment Hysteresis in Transition Countries: Evidence using Stationarity Panel Tests with Breaks
2008
The authors test hysteresis versus the natural rate hypothesis in unemployment using panel data for transition countries covering the period 1991:1–2003:11.The advantages of the stationarity tests applied is that they exploit the cross-section variations of the series and, additionally, allow for a different number of endogenous breakpoints in the unemployment series. They do not impose independence on the panel members, so that the critical values are simulated based on their specific panel sizes and time periods. The findings stress the importance of accounting for exogenous shocks in the series and give support to the shifting natural-rate hypothesis of unemployment for all the countries…
Will the Economic Impact of COVID-19 Persist? Prognosis from 21st Century Pandemics
2021
COVID-19 has had a disruptive economic impact in 2020, but how long its impact will persist remains unclear. We offer a prognosis based on an analysis of the effects of five previous major epidemics in this century. We find that these pandemics led to significant and persistent reductions in disposable income, along with increases in unemployment, income inequality and public debt-to-GDP ratios. Energy use and CO2 emissions dropped, but mostly because of the persistent decline in the level of economic activity rather than structural changes in the energy sector. Applying our empirical estimates to project the impact of COVID-19, we foresee significant scarring in economic performance and in…
Women’s Job Search Competence: A Question of Motivation, Behavior, or Gender
2018
We examined motivation and behaviors in women's active job search in Spain and the gender gap in this process. The current crisis in Spain and the increase in the number of unemployed people have revealed new inequalities that particularly affect women's employability, especially the most vulnerable women. This paper addresses two exploratory studies: the first study analyzes gender differences in the active job search using a sample of 236 Spanish participants; the second study explores the heterogeneity and diversity of unemployed women in a sample of 235 Spanish women. To analyze the active job search, the respondents were invited to write open-ended responses to questions about their jo…
Economic crisis and educational crisis : looking ahead
1986
The worldwide economic crisis has now been with us for a good ten years and, for many countries, the end of the tunnel is not yet in sight and is probably a long way off. So what kind of crisis is this, that can continue for so long, given the fact that, etymologically, the term denotes a brief, crucial moment when the outcome of a troubled situation is decided, for better or for worse? Infelicitous as the term commonly used to describe the present state of the world economy may be, it is none the less true that what is designated as a crisis encompasses a historical phase in which economic growth is lower than in the preceding phase and the problems bound up with certain economic trends (i…
Labour Market Institutions and Inflation Differentials in the EU
2015
Adopting a simple Phillips curve framework, we show that different labour market institutions across EU countries are associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i.e. the exchange rate pass-through. In addition, using a new approach to the classification of goods and services as "traded" or "non-traded", we show that both these institutional effects are significantly stronger for the more exposed (traded) sector.
Wage Bargaining Centralization And Macroeconomic Performance: An Experimental Approach
2001
This paper experimentally analyzes the effect of wage bargaining centralization (WBC) on macroeconomic performance. Our theoretical benchmark comes from that developed by Cukierman and Lippi (1999) to investigate the joint effects of monetary policy and labor market institutions on unemployment and inflation. We focus on the implications of two well known effects related to the degree of WBC: the competitive effect and the strategic effect. To do so we established a simple wage setting mechanism based on the existence of assorted levels of WBC measured by the number of unions in the labor market. In the three control treatments, unions' welfare and monetary rewards depend only on unemployme…
Quantum macroeconomics: A tribute to Bernard Schmitt
2016
Bernard Schmitt, the founder of quantum macroeconomics, died on 26 March 2014. His legacy concerns the discovery of the logical laws of monetary macroeconomics and extends to the explanation of the origin and nature of economic and financial crises. Starting from a novel conception of bank money, he was able to show that economics is founded on true macroeconomic laws, which take the form of logical identities. This paper is a brief and necessarily incomplete introduction to the main themes of Schmitt's macroeconomic analysis. It ranges from the distinction between money and income that lies at the hearth of his theory of the circuit, to the investigation of inflation and unemployment as pa…
Terrorists Tend to Target Innocent Tourists
2015
Over last decades, policy makers in tourism and hospitality acknowledged that terrorism was the worse threat to tourism and West because of many reasons. Terrorism not only affects seriously economies generating unemployment and stagnation in international demand, but also triggers an escalation of violence where all advertisement efforts are backfired. Nevertheless, this essay review explores the historical roots of modern tourism and worker unions to see the point of connection between both. What beyond the boundaries of society is called terrorist attack, inside is named “strike”. This review reminds that the origin of terrorism has been coined in West, as a result of capitalism expansio…
Educated for migration? Blind spots around labor market conditions, competence building, and international mobility
2018
Young European graduates are crossing borders to work abroad more often than in the past. This trend is particularly evident in Southern Europe, where recent economic downturn has significantly diminished professional opportunities and career prospects. This study will investigate Spain, a country where unemployment has increased dramatically since 2008, as a case study to examine recent graduate’s experiences to develop a professional career in Germany. In particular, this study will draw upon various sources: official statistics; review literature; and education and training policies throughout the European Union. The investigation features an interview with Spanish graduates working in …