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Unemployment and Productivity in the Long Run
			: the Role of Macroeconomic Volatility

Unemployment and Productivity in the Long Run : the Role of Macroeconomic Volatility »

Volume/Issue: 2010/259

Series: IMF Working Papers

Author(s): Paolo Surico , Luca Ricci , and Pierpaolo Benigno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

DOI: http://dx.doi.org/10.5089/9781455209590.001

ISBN: 9781455209590

Keywords: macroeconomic volatility, downward wage rigidities, unemployment rate, employment, unemployment rates, rate of unemployment, Macroeconomics and Monetary Economics: General, Macroeconomics: Consumption, Saving, Production

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run produc...

Output and Unemployment Dynamics during the Great Recession
			: A Panel Unobserved Components Analysis

Output and Unemployment Dynamics during the Great Recession : A Panel Unobserved Components Analysis »

Volume/Issue: 2010/185

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455202195.001

ISBN: 9781455202195

Keywords: Output dynamics, Unemployment dynamics, World economy, Great Recession, Panel unobserved components model, unemployment rate, unemployment, domestic demand, labor demand, Open Economy Macroeconomics,

This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated...

Employment Effects of Growth Rebalancing in China

Employment Effects of Growth Rebalancing in China »

Volume/Issue: 2009/169

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873160.001

ISBN: 9781451873160

Keywords: growth rebalancing, GIMF model, share of employment, employment in the services sector, job creation, employment in agriculture,

This paper gauges the potential effects on employment of rebalancing China's exportoriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely...

Explaining China's Low Consumption
			: The Neglected Role of Household Income

Explaining China's Low Consumption : The Neglected Role of Household Income »

Volume/Issue: 2007/181

Series: IMF Working Papers

Author(s): Jahangir Aziz , and Li Cui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867459.001

ISBN: 9781451867459

Keywords: Financing Constraints, Rebalancing Growth, employment growth, employment, household income, household survey, national accounts,

The Chinese government has recently focused on the need to increase consumption to rebalance the economy. A widely held view is that despite China's remarkably high growth, the share of consumption in total expendi...

Asia Rising
			: A Sectoral Perspective

Asia Rising : A Sectoral Perspective »

Volume/Issue: 2007/130

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451866940.001

ISBN: 9781451866940

Keywords: Growth, productivity growth, employment, agricultural employment, employment share, total employment,

This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It finds that Asia's remarkable output growth over the past 40 years reflected both high investment, a...

Pension Reform in China
			: The Need for a New Approach

Pension Reform in China : The Need for a New Approach »

Volume/Issue: 2007/109

Series: IMF Working Papers

Author(s): Steven Dunaway , and Vivek Arora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

DOI: http://dx.doi.org/10.5089/9781451866735.001

ISBN: 9781451866735

Keywords: Public pensions, China, pension, pension system, retirement, benefits, individual accounts,

The rapid aging of China's population over the next few decades makes it important for a new pension system with broad and adequate coverage to be put in place quickly. Pension reforms, first initiated in 1997, hav...

The Impact of Tradeon Wages
			: What If Countries Are Not Small?

The Impact of Tradeon Wages : What If Countries Are Not Small? »

Volume/Issue: 2006/155

Series: IMF Working Papers

Author(s): Ichiro Tokutsu , and Mika Saito

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

DOI: http://dx.doi.org/10.5089/9781451864151.001

ISBN: 9781451864151

Keywords: wage, skilled labor, tariff rates, intermediate inputs, Neoclassical Models of Trade, Country and Industry Studies of Trade, Trade and Labor Market Interactions, Existence and Stability Conditions of Equilibrium,

This paper explores the effect of trade on the relative wage of less-skilled labor through its effect on world prices, which are typically exogenously given under the small open economy assumption. Using the 1995 i...

The Dynamics of Provincial Growth in China
			: A Nonparametric Approach

The Dynamics of Provincial Growth in China : A Nonparametric Approach »

Volume/Issue: 2006/55

Series: IMF Working Papers

Author(s): Bulent Unel , and Harm Zebregs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2006

DOI: http://dx.doi.org/10.5089/9781451863154.001

ISBN: 9781451863154

Keywords: Provincial Growth in China, Convergence, Data Envelopment Analysis, labor productivity growth, growth rate, growth accounting, gdp growth, Economywide Country Studies: Asia including Middle East, Development Planning And Policy, Socialist Systems And Transitional Economies,

China's growth record since the start of its economic reforms in 1978 has been extraordinary. Yet, this impressive performance has been associated with an increasing regional income disparity. We use a recently dev...

The Internal Job Market of the IMF's Economist Program

The Internal Job Market of the IMF's Economist Program »

Volume/Issue: 2004/190

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

DOI: http://dx.doi.org/10.5089/9781451859690.001

ISBN: 9781451859690

Keywords: Matching, stability, marriage problem, deferred acceptance algorithm, Gale-Shapley, entry-level job market, job market, job offer, job offers, labor markets

This paper shows how the internal job market for participants in the IMF Economist Program (EPs) could be redesigned to eliminate most of the shortcomings of the current system. The new design is based on Gale and...

China's Labor Market Performance and Challenges

China's Labor Market Performance and Challenges »

Volume/Issue: 2003/210

Series: IMF Working Papers

Author(s): Tao Ran , and Ray Brooks

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

DOI: http://dx.doi.org/10.5089/9781451874815.001

ISBN: 9781451874815

Keywords: labor force, labor market, jobs, Demand and Supply of Labor: General, Unemployment: Models, Duration, Incidence, and Job Search

A more market-oriented labor market has emerged in China in the past twenty years with growing importance of the urban private sector, as state-owned enterprises have downsized. Despite the progress on reforms, a s...