Business Cycles And Employment

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Employment Protection And Business Cycles In Emerging Economies

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Author : Mr.Ruy Lama
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-01

Employment Protection And Business Cycles In Emerging Economies written by Mr.Ruy Lama and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-01 with Business & Economics categories.

We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment protection in shaping business cycles in emerging economies. The model features matching frictions and an endogenous selection effect by which inefficient jobs are destroyed in recessions. In a quantitative version of the model calibrated to the Mexican economy we find that reducing separation costs to a level consistent with developed economies would reduce output volatility by 15 percent. We also use the model to analyze the Mexican crisis episode of 2008 and conclude that an economy with lower separation costs would have experienced a smaller drop in output and in measured total factor productivity with no significant change in aggregate employment.

Labor Markets And Business Cycles

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Author : Robert Shimer
language : en
Publisher: Princeton University Press
Release Date : 2010-04-12

Labor Markets And Business Cycles written by Robert Shimer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-12 with Business & Economics categories.

Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.

Measuring Business Cycles

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Author : Simone Dommer
language : de
Publisher: GRIN Verlag
Release Date : 2010-03-03

Measuring Business Cycles written by Simone Dommer and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-03 with Business & Economics categories.

Studienarbeit aus dem Jahr 2009 im Fachbereich BWL - Unternehmensforschung, Operations Research, , Sprache: Deutsch, Abstract: This assignment covers the topic “Measuring Business Cycles”. A business cycle is defined as recurrent but not period fluctuations in business econom-ics. It includes four different phases: contraction (decrease of business activi-ties), trough (lower turning point), expansion or recovery (increase of busi-ness activities) and peak (upper turning point followed again by contraction). One business cycle can either last from trough to next trough or from one peak to another. Business cycles present fluctuations around a given growth-trend. According to the impulse-propagation approaching fluctuations are caused by three types of shocks: supply shock, private demand shock and policy shock. Short-time shifts in aggregate supply and aggregate demand have an impact on output, employment and price level as these factors are closely intercon-nected. Therefore economists use variables to track output, employment and price level in order to find out the current business cycle phase and to select the correct instruments or if necessary to start the counteractive measure-ments. The most important factor in determining the phase of the business cycle is the economic activity measured by gross domestic product (GDP), a procyc-lical variable. A positive GDP indicates that the economy is growing (expan-sion phase) and vice versa a negative GDP shows the economy is declining (contraction phase). Potential GDP shows the possible output under full em-ployment. The harmonisation of potential and real GDP can be influenced by decreasing the unemployment rate (share of unemployed people of labor force. Unemployment rate develops counter cyclically. In case economic ac-tivity increases (expansion phase), unemployment rate will fall and vice versa. Another important factor is inflation. High inflation devaluates value of money and rising inflation will increase the demand for higher wages leading to lower output. The objective of macroeconomic policy is to track the variables and to find the correct respond to each development. Possible instruments may be fo-cussing on stability in employment, prices and growth.

Self Employment And Business Cycles

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Author : Mónica Carmona
language : en
Publisher:
Release Date : 2010

Self Employment And Business Cycles written by Mónica Carmona and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

The relationship between self-employment and some macroeconomic variables is and has been at the heart of the debate about self-employment contributions to employment and economic growth. This paper is devoted to the exploration of the co-movement and causality between entrepreneurship and economic performance in both directions. It looks for basic relationships between self-employment and some macroeconomic variables in Spain and the US, using quarterly data from 1987:2 to 2004:4. Our results do not support the procyclicality of self-employment in general, but we found strong evidence on procyclicality for a specific group of self-employed: self-employed with employees (employers) in Spain. On the other hand causality tests suggest that the business cycle (GDP or unemployment) causes to employers and provides evidence on instantaneous causality between self-employment/own-account workers and GDP, in Spain. For the US we found weak correlations between self-employment and the business cycle (they tend to become larger when the forecast horizon increases).

Readings In Business Cycles And National Income

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Author : Richard Vernon Clemence
language : en
Publisher:
Release Date : 1953

Readings In Business Cycles And National Income written by Richard Vernon Clemence and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1953 with Business cycles categories.

Business Cycles With Worker Moral Hazard

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Author : Jon Strand
language : en
Publisher:
Release Date : 1988

Business Cycles With Worker Moral Hazard written by Jon Strand and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business cycles categories.

Fluctuations In Income Employment

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Author : Thomas Wilson
language : en
Publisher:
Release Date : 1949

Fluctuations In Income Employment written by Thomas Wilson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1949 with Business & Economics categories.

Business Cycles And Their Causes

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Author : Wesley Clair Mitchell
language : en
Publisher:
Release Date : 2012-03-01

Business Cycles And Their Causes written by Wesley Clair Mitchell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-01 with Business cycles categories.

Business Cycles In The Run Of History

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Author : Thierry Aimar
language : en
Publisher: Springer
Release Date : 2015-11-26

Business Cycles In The Run Of History written by Thierry Aimar and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-26 with Business & Economics categories.

This book analyzes the development of economic cycles in the run of history. The focus is on the development of cycle theory, with maximum emphasis upon ideas. Chapter 1 delivers an overview of the debate about cycles before the 1970s. Chapter 2 completes this survey by presenting the main empirical investigations since that time. Finally, Chapters 3 and 4 illustrate the discourse, by presenting, in the tradition of Burns and Mitchell, original case studies on France, South Africa, and Germany.

Unemployment And Monetary Policy

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Author : Friedrich August Hayek
language : en
Publisher: San Francisco, Calif. : Cato Institute
Release Date : 1979

Unemployment And Monetary Policy written by Friedrich August Hayek and has been published by San Francisco, Calif. : Cato Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business & Economics categories.

Rev. ed. of: Full employment at any price? 1975. Bibliography: p. 47-51.