On Economic Policies of Unemployment in Europe

This article deals with the unemployment problem in Europe. While the prevailing explanations sources of unemployment such as jobless growth, rigid labour markets and the process of globalization are rejected, it is argued that technological backwardness, slow growth and investment rates are responsible for the high European unemployment rate. A change in the mix of economic policy implemented in Europe is proposed in order to decelerate real interest rate, increase investments, GDP and employment.

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The high unemployment rate in Britain during the interwar period

SHS Web of Conferences ◽

10.1051/shsconf/202112301027 ◽

2021 ◽

Vol 123 ◽

pp. 01027

Author(s):

Yifei Liu

Keyword(s):

Economic Policy ◽

World War Ii ◽

World War I ◽

Interwar Period ◽

Unemployment Rate ◽

World War ◽

High Unemployment ◽

High Unemployment Rate ◽

The Relationship ◽

Unemployment Problem

World War I (WWI) causes irreversible consequences on the British economy, and Britain has experienced the most severe economic crisis in the 1920s. This paper aims to explain the causes of unemployment in Britain in the years between the wars and why that problem persisted for much of that period. This paper will describe the causes of unemployment by analyzing how World War I affected the British exports market. Then this essay will move on by exploring how the economic policy of Britain after World War II(WWII) damages the exports market and creates high unemployment. In addition, this paper will also discuss the relationship between the change in the labour market in World War I and the unemployment problem. Finally, this paper will illustrate why the unemployment problem persists by exploring regional and industrial unemployment issues.

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THE EFFECT OF MONETARY POLICY ON UNEMPLOYMENT RATE IN INDONESIA

Jurnal Ilmu Ekonomi Terapan ◽

10.20473/jiet.v6i1.27100 ◽

2021 ◽

Vol 6 (1) ◽

pp. 1

Author(s):

Hafiansyah Mahadika ◽

Wisnu Wibowo

Keyword(s):

Economic Growth ◽

Monetary Policy ◽

Interest Rate ◽

Interest Rates ◽

Unemployment Rate ◽

Real Interest Rate ◽

Real Exchange Rates ◽

Series Data ◽

The Real ◽

The Impact

This study aims to determine the influence of monetary policy on the unemployment rate in Indonesia. Unemployment is one of the fundamental problems in the economy. The unemployment problem can be overcome by monetary policy. This study used time series data with the period 1975-2016 using real money demand, economic growth, real interest rates, and real exchange rates as independent variables, and the unemployment rate as the dependent variable. The data used in this study is secondary data obtained from the World Bank. The method used is ARDL (Autoregressive Distributed Lag) which can change a static economic theory to be dynamic by taking into account the role of time explicitly. The results show that in the long run the probability value of the economic growth variable is below the 5% significance level which indicates that economic growth had a negative and significant effect on the unemployment rate. In the short run, the real interest rate, the real interest rate at lag 1, economic growth at lag 1 and lag 3, and the real exchange rate at lag 1 had a negative and significant effect on the unemployment rate. This indicates that the impact of monetary policy on the unemployment rate is temporary.Keywords: Unemployment Rate, Monetary Policy, ARDL.JEL : E24, E52, E61.

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The Rise of Services and Balanced Growth in Theory and Data

American Economic Journal Macroeconomics ◽

10.1257/mac.20180373 ◽

2020 ◽

Vol 12 (4) ◽

pp. 109-146 ◽

Cited By ~ 1

Author(s):

Miguel León-Ledesma ◽

Alessio Moro

Keyword(s):

Economic Growth ◽

Interest Rate ◽

Structural Transformation ◽

Real Interest Rate ◽

Marginal Product ◽

Balanced Growth ◽

The Real ◽

Investment Rates ◽

Cross Country ◽

Real Investment

We investigate the effect of structural transformation on the process of economic growth. Using a two-sector growth model we show that, in addition to Baumol’s cost disease, structural transformation from goods to services generates other predictions that are in line with cross-country growth facts: an increase in the real investment rate, a decline in the real interest rate and the marginal product of capital, and an acceleration of investment-specific technological change as the share of services increases. The model calibrated to US data can account for the elasticity of real investment rates to the share of services measured in cross-country data. (JEL E22, E23, E43, L16, O33, O41, O47)

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The age of symbolic economic policies?

Society and Economy ◽

10.1556/204.2015.37.2.6 ◽

2015 ◽

Vol 37 (2) ◽

pp. 245-265

Author(s):

Peter Galbács

Keyword(s):

Economic Policy ◽

Theoretical Framework ◽

Policy Tools ◽

Economic Policies ◽

Mainstream Economics ◽

History Of ◽

Theoretical Considerations ◽

Macroeconomic Environment

This paper offers a few remarks on the so-called heterodoxy commentaries of recent times (e.g. Bod 2013, Csaba 2011). In accordance with the growing popularity of unusual economic policy actions, a set of “tools” is emerging that aims to exert its effects breaking with instrumental actions. Outlining a special framework of the history of mainstream economics, it will be argued that economic policy only gradually has become capable of applying this system. In our view, both the emergence of symbolic economic policies mentioned above and the rise of heterodoxy are on the same level, since certain governments can only operate through giving signals. Although it is not the time to formulate ultimate and eternal generalised statements, it may perhaps be stated that symbolic economic policies can make some room for manoeuvring available as a last resort. In other words, the possibility of a certain kind of economic policy “tools” can be derived from theoretical considerations, and this set has become highlighted recently by some constraining changes in the macroeconomic environment. Our theoretical framework will be filled sporadically with some episodes from the last few years of the economic policy of Hungary.

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Assessment of Poland's Economic Policy During te Crisis

Olsztyn Economic Journal ◽

10.31648/oej.3230 ◽

2013 ◽

Vol 8 (3) ◽

pp. 195-210

Author(s):

Stefan Krajewski

Keyword(s):

Economic Policy ◽

Pension System ◽

Fiscal Sustainability ◽

Economic Policies ◽

Role Of The State ◽

The Usa ◽

Reducing Costs ◽

Polish Economy ◽

Favorable Conditions ◽

The Eu

The rapid weakening of economic activity, covering most states in the world, gives rise to a lively discussion on the choice of methods to tackle the crisis, the legitimacy and effectiveness of various economic policies, the role of the state and the scope of its intervention in the economy. The paper evaluates the Polish economic policy in recent years. This refers to the situation prevailing in the EU and the USA. I conclude that the Polish economy during the crisis remained relatively stable, without having to provide the emergency aid from the outside. The development of such a situation has been affected by different reasons, including: - The benefits of the so-called "backwardness rent", which resulted, among others, in the inflow of EU funds (Poland was in 2007-2013 and in will be in 2014-2020 the biggest beneficiary of the EU budget); - The effects of decisions on changes in the tax and social security, taken for political reasons (before the crisis); - The controversial withdrawal from the funded pension system, reducing the budget deficit and public debt; - The prudent monetary policy and anti-inflation policy pursued over many years. Actions taken in Poland are primarily focused on reducing costs, which differs quite significantly from the economic policy dominant in the U.S. and the "old" EU countries which generally pursue expansionary fiscal policy and a policy of cheap money. Polish solution facilitates the achievement of short-term fiscal sustainability, but does not create favorable conditions for the development in the long-term (insufficient investment, petrification of economic structure, lack of innovation).

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