scholarly journals Is unemployment on steroids in advanced economies?

2019 ◽  
Vol 20 (1) ◽  
Author(s):  
Gabriel Di Bella ◽  
Francesco Grigoli ◽  
Francisco Ramírez
Keyword(s):  
Supply And Demand ◽  
Impulse Responses ◽  
Real Wages ◽  
Macroeconomic Theory ◽  
Demand Shocks ◽  
Advanced Economies ◽  
Labor Institutions ◽  
Labor Supply And Demand ◽  
European Economies ◽  
Persistent Unemployment

Abstract Conventional macroeconomic theory is based on the idea that demand shocks can only have temporary effects on unemployment, however several European economies display highly persistent unemployment dynamics. The theory of hysteresis points out that, under certain conditions, demand disturbances can have permanent effects. We find strong evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification scheme instigated by an insider/outsider model, we exploit the heterogeneity in impulse responses to demand shocks to investigate what labor institutions soften or amplify these responses. Our results indicate that strengthening labor institutions that promote a faster adjustment of real wages, removing disincentives for firms to hire and for workers to be employed, and improving the matching between labor supply and demand can lessen the effects of adverse demand shocks and lead to a faster reversion of unemployment rates to pre-shock levels.

scholarly journals Análisis de la inclusión económica de los jóvenes al Mercado laboral en ecuador en el periodo 2009 al 2019

2021 ◽  
Vol 2 (4) ◽  
pp. 6072-6082
Author(s):  
Melina Veliz Andrade ◽  
Andrea Vega Granda ◽  
Víctor Garzón Montealegre ◽  
Jessica Quezada Campoverde ◽  
Eveligh Prado-Carpio
Keyword(s):  
Full Employment ◽  
Supply And Demand ◽  
International Labor Organization ◽  
Secondary Sources ◽  
Reference Information ◽  
International Labor ◽  
Economic Commission ◽  
Labor Institutions ◽  
America Latina ◽  
Labor Supply And Demand

El presente artículo tiene como objetivo analizar la inclusión económica juvenil en el mercado laboral del Ecuador en el periodo 2009 al 2019, tomando como referencia información de fuentes secundarias, correspondientes a la recopilación de evidencias investigativas como la Organización Internacional del Trabajo (OIT), la Comisión Económica para América Latina y el Caribe (CEPAL), el Ministerio de Trabajo, el Instituto Nacional de Estadística y Censos (INEC), entre otras revisiones bibliográficas enfocadas en la situación real que atraviesan la mayoría de los jóvenes en el país, en base a los resultados obtenidos se establecen los factores más relevantes que determinan la empleabilidad, como son la educación, la oferta y demanda laboral, las condiciones socio-económicas, instituciones labores, entre otros que como consecuencia, ha disminuido el pleno empleo, el subempleo y por lo contrario el desempleo ha aumentado.   This article aims to analyze youth economic inclusion in the Ecuadorian labor market in the period 2009 to 2019, taking as reference information from secondary sources, corresponding to the compilation of investigative evidence such as the International Labor Organization (ILO), the Economic Commission for Latin America and the Caribbean (ECLAC), the Ministry of Labor, the National Institute of Statistics and Censuses (INEC), among other bibliographic reviews focused on the real situation that the majority of young people in the country go through, based on the results obtained establish the most relevant factors that determine employability, such as education, labor supply and demand, socio-economic conditions, labor institutions, among others, which as a consequence, has decreased full employment, underemployment and on the contrary, unemployment has increased.

scholarly journals The Response of G7 Real Exchange Rates to Oil Price Shocks

2018 ◽  
Vol 10 (4) ◽  
pp. 191
Author(s):  
Moayad H. Al Rasasi
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Forecast Error ◽  
Supply And Demand ◽  
Real Exchange Rates ◽  
Aggregate Demand ◽  
Demand Shocks ◽  
Oil Supply ◽  
Exchange Rate Shocks

This paper evaluates the response of G7 real exchange rates to oil supply and demand shocks developed by Kilian (2009). We find evidence suggesting that oil shocks are associated with the appreciation (depreciation) of real exchange rates for oil exporting (importing) countries. Further evidence, based on the analysis of forecast error variance decomposition, indicates that oil-specific demand shocks are the main contributor to variation in real exchange rates, whereas oil supply shocks contribute the least. Finally, regarding the role of monetary policy in responding to oil and exchange rate shocks, we find evidence showing monetary policy reacts only to oil-specific demand and aggregate demand shocks in three countries, whereas monetary policy responds to real exchange rate fluctuations in four countries.

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