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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...

Wage Contracts, Capital Mobility, and Macroeconomic Policy

Wage Contracts, Capital Mobility, and Macroeconomic Policy »

Volume/Issue: 1995/10

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1995

DOI: http://dx.doi.org/10.5089/9781451842647.001

ISBN: 9781451842647

Keywords: wage, export sector, transactions costs, nominal interest rate

This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, th...

Unemployment and Productivity in the Long Run

Unemployment and Productivity in the Long Run »

Source: 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

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...

Wage Contracts, Capital Mobility, and Macroeconomic Policy

Wage Contracts, Capital Mobility, and Macroeconomic Policy »

Source: Wage Contracts, Capital Mobility, and Macroeconomic Policy

Volume/Issue: 1995/10

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1995

ISBN: 9781451842647

Keywords: wage, export sector, transactions costs, nominal interest rate

This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, th...