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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...

Mauritius
			: Unemployment and the Role of Institutions

Mauritius : Unemployment and the Role of Institutions »

Volume/Issue: 2003/211

Series: IMF Working Papers

Author(s): James Yao , and Calvin McDonald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

DOI: http://dx.doi.org/10.5089/9781451874860.001

ISBN: 9781451874860

Keywords: institutions, wage, skilled labor, employment, labor demand, labor market, Demand and Supply of Labor: General, Unemployment: Models, Duration, Incidence

Despite strong economic growth, a "U"-curve unemployment phenomenon in Mauritius can be observed. Unemployment plunged from 21 percent to less than 4 percent between the early 1980s and the early 1990s, but this tr...