| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1347 |
| DP1347 Firing Costs, Unions and Employment | |
| Alison Booth | |
| 发表日期 | 1996-03-18 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | This paper uses long-run restrictions on a three-variable system containing output growth, real wage growth and the differenced unemployment rate, to isolate three 'structural' shocks which drove business cycle fluctuations in Spain during 1970-94. These shocks are interpreted as aggregate demand, labour demand and labour supply disturbances in a framework where there is unit-root persistence in the unemployment rate. Our basic finding is that disinflationary policies in an economy suffering from high persistence can become very costly in terms of unemployment, unless supply-side reforms, aimed at eliminating the sources of persistence, are implemented. |
| 关键词 | Hysteresis Recessions Shocks Structural var |
| URL | https://cepr.org/publications/dp1347 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530502 |
| 推荐引用方式 GB/T 7714 | Alison Booth. DP1347 Firing Costs, Unions and Employment. 1996. |
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