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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...

Transfers, Social Safety Nets, and Economic Growth

Transfers, Social Safety Nets, and Economic Growth »

Volume/Issue: 1996/40

Series: IMF Working Papers

Author(s): Xavier Sala-i-Martin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1996

DOI: http://dx.doi.org/10.5089/9781451845921.001

ISBN: 9781451845921

Keywords: Social Safety Nets, Public Welfare, Economic Growth, Transfers, Productive Public Spending, criminal behavior, amount of crime, social security

This paper analyses the role of social safety nets in the form of redistributional transfers and wage subsidies. It is argued that public welfare programs can be viewed as a crime-preventing or disruption-preventin...