Growth and employment in Europe:
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
New York
Palgrave Macmillan
2004
|
| Schlagwörter: | |
| Links: | http://www.loc.gov/catdir/bios/hol059/2003065487.html http://www.loc.gov/catdir/description/hol053/2003065487.html http://www.loc.gov/catdir/toc/hol051/2003065487.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=012939677&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Beschreibung: | Includes bibliographical references and index |
| Umfang: | XIII, 230 S. Ill. |
| ISBN: | 0333777611 |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
List of Figures and Tables xi
Acknowledgements xiii
1 Introduction and Overview 1
1.1 The orthodox view of unemployment and
economic growth 3
1.2 Stylized facts of economic growth and
unemployment 6
1.3 A survey of the related literature 10
1.4 Overview of the book 18
Part I Theory 23
2 Efficiency Wages 25
2.1 Motivation 25
2.2 The household problem 27
2.3 Manufacturing 28
2.4 The innovation sector 30
2.5 The labor market 32
2.6 Equilibrium unemployment 33
2.7 Equilibrium growth 34
2.8 Conclusions 35
3 A Model of Economic Growth and Structural
Change 37
3.1 Motivation 37
3.2 The demand side 39
3.3 Manufacturing 41
3.4 The service sector 41
3.5 The innovation sector 42
3.6 The new economy 44
3.7 Conclusions 49
vii
viii Contents
4 Structural Change and Search Frictions 51
4.1 Motivation 51
4.2 The demand side 53
4.3 Manufacturing 56
4.4 The service sector 57
4.5 The innovation sector 58
4.6 Search unemployment 60
4.7 Endogenous growth 62
4.8 Unemployment and growth dynamics 63
4.9 Comparative dynamics 66
4.10 Conclusions 69
5 Can Long Term Wage Accords Promote Growth and
Employment? 71
5.1 Introduction 71
5.2 Related literature 73
5.3 Households and unions 74
5.4 The product market 76
5.5 Industry unions and employment 77
5.6 Equilibrium 79
5.7 Economic growth and the innovation sector 80
5.8 Unemployment and union size 82
5.9 Externalities, social optimum and long term
union policy 85
5.10 Conclusions 88
6 Aggregate Demand and Keynesian Unemployment 90
6.1 Motivation 90
6.2 Households 92
6.3 Firms, wage contracts and entry 96
6.4 Technical determinants of market entry 99
6.5 The market for consumer products and
aggregate demand failures 100
6.6 Unemployment and the labor market 102
6.7 Economic growth and venture capital
markets 104
6.8 Equilibrium unemployment and
economic growth 107
6.9 Is it Keynesian unemployment? 110
6.10 Conclusions 111
Contents ix
Part II Evidence 113
7 Job Creation and Destruction? 115
7.1 Motivation 116
7.2 A simple theoretical framework 118
7.3 Related empirical literature 123
7.4 The data 124
7.5 Does economic growth determine unemployment? 125
7.6 Does economic growth exert a different impact
on exits and entries? 131
7.7 Conclusions 134
8 On the Causality between Economic Growth and
Unemployment 136
8.1 Introduction 136
8.2 Three very stylized theoretical models 139
8.3 The data 144
8.4 Does slow economic growth cause unemployment, or
vice versa? 146
8.5 Conclusions 152
9 The Dynamics of Economic Growth
and Unemployment 154
9.1 Motivation 154
9.2 Related literature 155
9.3 A simple theoretical framework 157
9.4 The data 160
9.5 The dynamic system in a vector error correction
representation 161
9.6 Testing for cointegration 164
9.7 Cointegration and dynamic adjustment 167
9.8 Conclusions 170
10 Conclusions and Policy Recommendations 172
10.1 The orthodox view of unemployment
and economic growth 174
10.2 Innovation driven endogenous growth models
and the resource constraint 176
10.3 Labor market imperfections and
the incentive condition 178
10.4 The dynamics of economic growth
and unemployment 184
xii List of Figures and Tables
9.2 Johansen cointegration test 168
9.3 Optimal number of lags in a bivariate unrestricted
VECM for growth and unemployment 168
9.4 Vector error correction models for growth and
unemployment in Europe 169
x Contents
10.5 The scope for economic policy 186
10.6 The focus of economic policy 189
10.7 Traditional policy instruments 190
10.8 Concluding remarks 194
Appendixes
1 Augmented Dickey Fuller test statistics 196
2 Optimal lag length in a bivariate unrestricted VAR 204
3 Johansen cointegration tests 206
4 Optimal lag length in a bivariate unrestricted VECM 208
5 VECM: Germany, 4 lags and a reunification dummy 210
Notes 211
Bibliography 214
Author Index 223
Subject Index 226
List of Figures and Tables
Figures
1.1 The orthodox model of equilibrium unemployment and
economic growth: short run dynamics and long run
neutrality 7
4.1 The resource constraint (RC) and the incentive
condition (IC) 65
4.2 The comparative dynamics of an increase in the firing
rate S 67
4.3 The comparative dynamics of an increase in innovation
productivity 0 68
5.1 The unemployment to economic growth space 84
10.1 The orthodox model of equilibrium unemployment and
economic growth: short run dynamics and long run
neutrality 175
10.2 Resource constraint (RC) and incentive condition (IC) in
the determination of the equilibrium unemployment rate
and steady state rate of economic growth 181
10.3 The dynamics of unemployment and economic growth:
resource constraint (RC), incentive condition (IC), and
the solution to the cointegrating relation (CR*) 185
Tables
4.1 The unemployment experience in selected OECD countries 53
7.1 Change in individual unemployment experiences due to
economic growth 129
7.2 Change in exits and entries to employment due to economic
growth 132
8.1 Summary statistics 145
8.2 Dickey Fuller tests 147
8.3 Optimal number of lags in a bivariate unrestricted VAR
for growth and unemployment 150
8.4 Granger causality tests 151
9.1 Optimal number of lags in a bivariate unrestricted VAR
for growth and unemployment 165
xi
|
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| geographic_facet | Europa Europe -- Economic conditions |
| id | DE-604.BV019609950 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T12:01:44Z |
| institution | BVB |
| isbn | 0333777611 |
| language | English |
| lccn | 2003065487 |
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| owner_facet | DE-12 DE-521 DE-188 |
| physical | XIII, 230 S. Ill. |
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| spellingShingle | Zagler, Martin 1968- Growth and employment in Europe Wirtschaft Unemployment -- Europe Employment (Economic theory) Arbeitslosigkeit (DE-588)4002730-2 gnd Strukturwandel (DE-588)4058136-6 gnd Beschäftigungspolitik (DE-588)4005982-0 gnd Wirtschaftswachstum (DE-588)4066527-6 gnd Beschäftigungstheorie (DE-588)4127364-3 gnd |
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| title | Growth and employment in Europe |
| title_auth | Growth and employment in Europe |
| title_exact_search | Growth and employment in Europe |
| title_full | Growth and employment in Europe Martin Zagler |
| title_fullStr | Growth and employment in Europe Martin Zagler |
| title_full_unstemmed | Growth and employment in Europe Martin Zagler |
| title_short | Growth and employment in Europe |
| title_sort | growth and employment in europe |
| topic | Wirtschaft Unemployment -- Europe Employment (Economic theory) Arbeitslosigkeit (DE-588)4002730-2 gnd Strukturwandel (DE-588)4058136-6 gnd Beschäftigungspolitik (DE-588)4005982-0 gnd Wirtschaftswachstum (DE-588)4066527-6 gnd Beschäftigungstheorie (DE-588)4127364-3 gnd |
| topic_facet | Wirtschaft Unemployment -- Europe Employment (Economic theory) Arbeitslosigkeit Strukturwandel Beschäftigungspolitik Wirtschaftswachstum Beschäftigungstheorie Europa Europe -- Economic conditions |
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