أعرض تسجيلة المادة بشكل مبسط

dc.creator Smith, Ron P.
dc.creator Zoega, Gylfi
dc.date 2008
dc.date.accessioned 2013-10-16T06:58:00Z
dc.date.available 2013-10-16T06:58:00Z
dc.date.issued 2013-10-16
dc.identifier Economics: The Open-Access, Open-Assessment E-Journal 2 2008-22 1-29 doi:10.5018/economics-ejournal.ja.2008-22
dc.identifier doi:10.5018/economics-ejournal.ja.2008-22
dc.identifier http://hdl.handle.net/10419/18035
dc.identifier ppn:572163878
dc.identifier http://www.economics-ejournal.org/economics/journalarticles/2008-22
dc.identifier RePEc:zbw:ifweej:7348
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18035
dc.description OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has a natural interpretation as a measure of global expected returns, which is given added plausibility by the fact that it is almost identical to the common factor driving investment shares. We estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market institutions and we examine whether the global factor can act as a proxy for the natural rate in a Phillips Curve. In 15 out of the 21 countries one cannot reject that the same natural rate, as a function of the global factor, appears in both the unemployment and inflation equations. In explaining both unemployment and inflation, the global factor is highly significant, suggesting that models which ignore the global dimension are likely to be deficient.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Economics - The Open-Access, Open-Assessment E-Journal 2008-22
dc.rights http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
dc.subject E2
dc.subject J1
dc.subject ddc:330
dc.subject Unemployment dynamics
dc.subject labour market institutions investment
dc.subject principal components
dc.subject global factors
dc.subject Arbeitslosigkeit
dc.subject Konjunktur
dc.subject Arbeitsmarktflexibilisierung
dc.subject Natürliche Arbeitslosigkeit
dc.subject Phillips-Kurve
dc.subject Faktorenanalyse
dc.subject Schätzung
dc.subject OECD-Staaten
dc.title Global Factors, Unemployment Adjustment and the Natural Rate
dc.type doc-type:article
dc.coverage 1960-2002


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط