Regional Labor Market Adjustments In The United States And Europe
DOWNLOAD
Download Regional Labor Market Adjustments In The United States And Europe PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Regional Labor Market Adjustments In The United States And Europe book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Regional Labor Market Adjustments In The United States And Europe
DOWNLOAD
Author : Mai Dao
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-11
Regional Labor Market Adjustments In The United States And Europe written by Mai Dao 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 2014-02-11 with Business & Economics categories.
We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run effect of a state-specific shock on the state employment level has decreased over time, suggesting less overall net migration in response to a regional shock, (ii) the role of the participation rate as absorber of regional shocks has increased, (iii) the response of net migration to regional shocks is stronger, while that of relative unemployment is weaker during aggregate downturns, and (iv) the change in the response intensity of migration is related to the declining trend in regional dispersion of labor market conditions. Finally, using regional data for a set of 21 European countries, we show that while the short-term response of participation rates to labor demand shocks is typically larger in Europe than in the US, the immediate response of net migration in Europe has increased over time.
Regional Labor Market Adjustments In The United States
DOWNLOAD
Author : Mai Dao
language : en
Publisher: International Monetary Fund
Release Date : 2014-11-25
Regional Labor Market Adjustments In The United States written by Mai Dao 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 2014-11-25 with Business & Economics categories.
We examine patterns of regional adjustments to shocks in the US during the past four decades. We find that the response of interstate migration to relative labor market conditions has decreased, while the role of the unemployment rate as absorber of regional shocks has increased. However, the response of net migration to regional shocks is stronger during aggregate downturns and increased particularly during the Great Recession. We offer a potential explanation for the cyclical pattern of migration response based on the variation in consumption risk sharing.
Regional Labor Market Adjustments In The United States
DOWNLOAD
Author : Mai Dao
language : en
Publisher:
Release Date : 2014
Regional Labor Market Adjustments In The United States written by Mai Dao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Labour Market Adjustments In Europe And The Us
DOWNLOAD
Author : Robert Beyer
language : en
Publisher:
Release Date : 2015
Labour Market Adjustments In Europe And The Us written by Robert Beyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment level, the employment rate and the participation rate using the region-specific variables and the country factors. We find that both in Europe and the US labour mobility accounts for about 50% of the long run adjustment to region-specific labour demand shocks and only a little more in the US than in Europe, where adjustment takes twice as long. In Europe labour mobility is a less important adjustment mechanism in response to country-specific labour demand shocks that cause stronger and more persistent reactions of the employment and the participation rate. However, we detect a convergence of the adjustment processes in Europe and the US, reflecting both a fall in interstate migration in the US and a rise in the role of migration in Europe. Finally, we show that part of the difference between Europe and the US in previous studies may be due to the use of different data sources.
Currency Unions Economic Fluctuations And Adjustment
DOWNLOAD
Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1996-08-01
Currency Unions Economic Fluctuations And Adjustment written by Mr.Tamim Bayoumi 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 1996-08-01 with Business & Economics categories.
This paper examines the sources of disturbances to output in the United States and a set of EU countries and analyzes labor market adjustment mechanisms in these two economic areas. Comparable datasets comprising 1-digit sectoral data for eight U.S. regions and eight European countries are constructed and used to compare the degree of industrial diversification and the relative importance of different sources of shocks to output growth. Both areas are found to be subject to similar overall disturbances although a disaggregated perspective reveals some important differences. The major difference, however, is in labor market adjustment. Interregional labor mobility appears to be a much more important adjustment mechanism in the United States, which has a more integrated labor market than the EU.
Labour Market Adjustments In Europe And The Us
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2015
Labour Market Adjustments In Europe And The Us written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment level, the employment rate and the participation rate using the region-specific variables and the country factors. We find that both in Europe and the US labour mobility accounts for about 50% of the long run adjustment to region-specific labour demand shocks and only a little more in the US than in Europe, where adjustment takes twice as long. In Europe labour mobility is a less important adjustment mechanism in response to country-specific labour demand shocks that cause stronger and more persistent reactions of the employment and the participation rate. However, we detect a convergence of the adjustment processes in Europe and the US, reflecting both a fall in interstate migration in the US and a rise in the role of migration in Europe. Finally, we show that part of the difference between Europe and the US in previous studies may be due to the use of different data sources.
The Response Of Wages And Labor Supply Movements To Employment Shocks Across Europe And The United States
DOWNLOAD
Author : Mr.Alun H. Thomas
language : en
Publisher: International Monetary Fund
Release Date : 1994-12-01
The Response Of Wages And Labor Supply Movements To Employment Shocks Across Europe And The United States written by Mr.Alun H. Thomas 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 1994-12-01 with Business & Economics categories.
This paper assesses the responsiveness of wages and labor force movements to employment shocks across British and U.S. regions and across Europe using a multivariate vector autoregression technique. The paper finds inflexible real wages in all three areas in that each area’s real wage responds very little to employment shocks. However, the response of the labor force to employment shocks is much greater in the United States compared to Europe. The strong labor force response in the United States prevents any persistence in relative regional unemployment rates whereas the lack of mobility in Europe results in persistent unemployment rate differentials across British regions and European nations. Europe must therefore adopt measures to reduce barriers to immobility if it is to succeed in moderating the persistence in relative unemployment rates.
Patterns In Regional Labor Market Adjustment
DOWNLOAD
Author : Edward Montgomery
language : en
Publisher:
Release Date : 1993
Patterns In Regional Labor Market Adjustment written by Edward Montgomery and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Labor market categories.
Retraining And Labor Market Adjustment In Western Europe
DOWNLOAD
Author : Margaret S. Gordon
language : en
Publisher:
Release Date : 1964
Retraining And Labor Market Adjustment In Western Europe written by Margaret S. Gordon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1964 with Labor supply categories.
Contents: Postwar labor market development; Retraining in the first postwar decade, 1945-1955; Retraining in tighter labor markets, 1955-1964; Older workers, younger workers, and other special groups; Results of retraining; Current and future problems.
Regional Nonadjustment And Fiscal Policy
DOWNLOAD
Author : Maurice Obstfeld
language : en
Publisher:
Release Date : 1998
Regional Nonadjustment And Fiscal Policy written by Maurice Obstfeld and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Fiscal policy categories.
How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada, which is closer to European than the US is in its labor market and fiscal institutions. Europe's (and to some extent Canada's) model of regional response differs from that of the US. Changes in relative regional real exchange rates are general small. Outside of the US, however, there is more reliance on interregional transfer payments, less on labor migration, and the pace of regional adjustment appears slower. The regional adjustment patterns currently prevailing within European currency unions--characterized by limited labor mobility and price inflexibility--seem likely to prevail at the national level under the single currency. If EMU aims to attain the economic and social cohesion of its constituent nations, it therefore may be hard to resist the eventual extension of existing EU mechanisms of income redistribution--a transfer union. We propose an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market and fiscal reform, and the issuance by individual member states of debt indexed to nominal GDP.