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Markets, Unemployment and Economic Policy by Philip Arestis,Gabriel Palma,Malcolm Sawyer Pdf
In this volume more than 40 leading economists pay tribute to, and critically evaluate, Geoff Harcourt's work. Contributors include Tony Atkinson, Tony Lawson, Edward Nell and Ian Steedman.
Labor Markets, Employment Policy, And Job Creation by Lewis C. Solmon Pdf
This clear, accessible volume provides a comprehensive overview of the ongoing debate over the determining factors of and key influences on employment growth and labor market training, education, and related policies in the United States. Drawing on the work of distinguished labor economists, the chapters tackle questions posed by job and skill demands in the "new high-tech economy" and explore sources of employment growth; productivity growth and its implications for future employment; government mandates, labor costs, and employment; and labor force demographics, income inequality, and returns to human capital. These topics are central concerns for government, which must judge every prospective policy proposal by its effects on employment growth. Washington keeps at least one eye firmly on the jobs picture, and public officials at every level are constantly aware of the issues surrounding American job security. The jobs issue reaches beyond this focus on the unemployment rate and on total employment, including the rate at which employment is seen as growing, the growth of real wages, the security of employment, returns to human capital, uncertainty about the education and training best suited for a world of rapidly changing economic conditions, and the distribution of the gains from growth across economic classes and population groups.
Globalization and Unemployment by Helmut M. Wagner Pdf
Globalization and unemployment are two phenomena which are amongst the most widely discussed subjects in the economic debate today. Often, globalization is regarded as being responsible for the increase in unemployment, particularly in unskilled labor. This book deals with the correlation between globalization and unemployment under various aspects: historical aspects of globalization, empirical trends and theoretical explanations of unemployment, effects of globalization in general and of European Monetary Union in particular on umemployment, labor market policy in a global economy, the impact of fiscal policy on unemployment in a global economy, as well as the effects of globalization on inflation and national stabilization policy.
Unemployment in Theory and Practice by Thomas Lange Pdf
Unemployment in Theory and Practice examines the effectiveness of current policies in the battle against unemployment. It uses a variety of country case studies to analyse the range of potential causes of and cures for unemployment and analyses the complex nature of labour markets.
The Political Economy of Labour Market Institutions by Gilles Saint-Paul Pdf
According to most orthodox economists, labour market rigidities are the key culprit for such high unemployment as has been observed in Europe during the past three decades. But governments that have attempted to follow the standard prescription of removing rigidities have often faced harsh political opposition. This book looks at why labour market institutions such as employment protection, unemployment benefits, and relative wage rigidities exist, what role they play in society, why they seem so persistent, where the pressure to reform them comes from, and whether reform can be politically viable or not. The book ascribes a central role to the existence of underlying microeconomic frictions and to redistributive pressures between rich and poor, and shows how these ingredients may give rise to labour market rents, which in turn explain why a coherent set of rigidities arise as the outcome of the political process. It is also shown that, at the same time, such rents create resistance to reform, and contribute to locking society into a high-unemployment, rigid equilibrium. Finally, the basic principles exposed in the book are used to discuss various strategies for a successful labour market reform.
Crises, Labor Market Policy, and Unemployment by Mr.Lorenzo E. Bernal-Verdugo,Davide Furceri,Mr.Dominique M. Guillaume Pdf
Using a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of financial crises is less pronounced but more persistent in countries with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor market policies have a positive impact on unemployment, albeit only in the medium term.
Persistence of Unemployment by Stephen R.G. Jones Pdf
The deep recession and slow recovery of the Canadian economy in the 1980s and the lengthy recession of the early 1990s raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some economists to doubt the traditional view that the national economy is by nature self-correcting and to endorse the concept of hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis would have important and far-reaching implications for economic policy, particularly monetary policy. Jones provides an overview of leading theories of hysteresis and examines international and Canadian evidence from both microeconomic and macroeconomic perspectives. He extends the econometric analysis of hysteresis at both the micro and macro levels and concludes that while there is some evidence of dependence in Canada, the overall picture is not one of hysteresis.
Unemployment by Angus Maddison,Bote S. Wilpstra Pdf
First published in 1982. Unemployment was a major scourge of the advanced capitalist countries in the 1930s, but in the golden age of post-war expansion which lasted until 1973, it had seemingly been vanquished by enlightened economic policy. Since 1973, unemployment has re-emerged as a major problem, along with accelerated inflation and problems of structural adjustment imposed by soaring energy prices. The rise in European unemployment came in two surges as a result of the generalised recessions of 1974-5 and 1980-1. At the beginning of 1982 unemployment in the European Community was running close to 10% of the labour force compared with a ‘norm’ of under 2% in the 1960s. These abrupt and serious changes in the labour market have created major new dilemmas for economic policy and have stirred significant and acrimonious theoretical controversy. For this reason it is useful to analyse the policy issues and the academic debate in a comparative perspective. The present volume contains three comparative papers on the employment policy discussions in Germany, the Netherlands and the UK as well as papers examining the theoretical adequacy of Keynesian, monetarist, structuralist and Marxist reactions to the new issues. The papers are all accompanies by a critique from the discussants.
Economic Policies since the Global Financial Crisis by Philip Arestis,Malcolm Sawyer Pdf
This book investigates the changing nature of economic policies following the Global Financial Crisis of 2007–9. Well-respected, international scholars come together to discuss the level of economic growth following the crisis, concerns over inequality in industrialised countries, and labour market policies.
Problems of Economic Policy (Routledge Revivals) by Keith Hartley Pdf
First published in 1977, this is an applied economics text, in which the basic theory of any introductory economics couurse is applied to a whole range of UK macro- and micro-economic policy issues. The book is designed specifically for first and second year university students, with the aim of demonstrating the relevance of theory to policy, how theory can be applied to policy problems and, in the process, to improve their understanding of the theory itself.
Inflation and Unemployment by Thorkil Kristensen Pdf
Monograph exploring causes and trends (1960-1979) of unemployment and inflation in OECD countries - discusses influences of product markets, financial markets, labour markets and the public sector, reviews theories of employment, considers significance of CMEA economic relations, and presents economic policy issues such as price stabilization and full employment, labour relations and wage policy, etc. Graphs and references.
Full Employment Abandoned by William Mitchell,J. Muysken Pdf
This book by William Mitchell and Joan Muysken is both important and timely. It deals with the issue of the abandonment of full employment as an objective of economic policy in the OECD countries. It argues persuasively that macroeconomic policy has been restrictive over the recent, and not so recent past, and has produced substantial open and disguised unemployment. But the authors show how a job guarantee policy can enable workers, who would otherwise be unemployed, to earn a wage and not depend on welfare support. If such a policy is fully supported by appropriate fiscal and monetary programmes, it can create full employment with price stability, which the authors label as a Non-Accelerating-Inflation-Buffer Employment Ratio (NAIBER). This book is essential reading for any one wishing to understand how we can return to full employment as the normal state of affairs. Philip Arestis, University of Cambridge, UK This book dismantles the arguments used by policy makers to justify the abandonment of full employment as a valid goal of national governments. Bill Mitchell and Joan Muysken trace the theoretical analysis of the nature and causes of unemployment over the last 150 years and argue that the shift from involuntary to natural rate conceptions of unemployment since the 1960s has driven an ideological backlash against Keynesian policy interventions. The authors contend that neo-liberal governments now consider unemployment to be an individual problem rather than a reflection of systemic policy failure and that they are content to use unemployment as a policy instrument to control inflation and coerce the unemployed with work tests and compliance programmes rather than provide sufficient employment. They present a comprehensive theoretical and empirical critique of this policy approach, with a refreshing new framework for understanding modern monetary economies. The authors show that the reinstatement of full employment with price stability is a viable policy goal that can be achieved by activist fiscal policy through the introduction of a Job Guarantee. Full Employment Abandoned will appeal to graduate and postgraduate students and researchers of economics and politics with an interest in macroeconomic policy and the labour market, particularly unemployment and neo-liberal policy frameworks.
With much of Europe plagued by high levels of unemployment, it has become widely accepted that the culprit is labor market rigidity and that the prescription can only be labor market deregulation: lower wages, higher earnings inequality, greater decentralization in bargaining, less generous unemployment benefits, more hiring flexibility, and less job security. Fighting Unemployment critically assesses this free market orthodoxy. With cross-country statistical analyses and country case studies, leading economists from seven North American and European countries contend that this conventional wisdom has greatly exaggerated the extent to which the unemployment problem can be blamed on protective labor market institutions and that the case for dismantling the welfare state to fight unemployment rests more on free market ideology than on the empirical evidence. The larger message of this book is that fundamentally different labor market models - ranging from the 'American Model' to the much more regulated and coordinated Scandinavian systems - are compatible with low unemployment.
The Political Economy of Unemployment by Thomas Janoski Pdf
This comprehensive and instructive study examines the relative success or failure of government policies in preventing and alleviating unemployment. Choosing two contrasting cases--West Germany and the United States--Thomas Janoski probes the causes and consequences of two very different orientations toward labor market policy. In West Germany, labor, employers, and government cooperate in the running of a powerful and effective employment service. In the United States, by contrast, one finds little state involvement, organizational confusion, a long history of poor funding, and legislative resistance to intervention in the labor market. In the author's mind, these inadequate policies have had deleterious consequences for the American labor force. Whereas a skilled and flexible labor force exists in West Germany, Americans are poorly trained and barely assisted in finding jobs and training. To remedy this situation Janoski puts forth bold and useful policy recommendations, including the creation of a new organization to operate in national labor markets, the development of technical training programs in high schools, and the creation of a youth service to prevent teenage crime. The Political Economy of Unemployment offers a trenchant examination of how modern industrialized nations deal with the vicissitudes of the economy and how they might develop and implement more effective labor market policies. Meticulously researched, it is an important contribution which policymakers and social scientists will find provocative and useful. This comprehensive and instructive study examines the relative success or failure of government policies in preventing and alleviating unemployment. Choosing two contrasting cases--West Germany and the United States--Thomas Janoski probes the causes and consequences of two very different orientations toward labor market policy. In West Germany, labor, employers, and government cooperate in the running of a powerful and effective employment service. In the United States, by contrast, one finds little state involvement, organizational confusion, a long history of poor funding, and legislative resistance to intervention in the labor market. In the author's mind, these inadequate policies have had deleterious consequences for the American labor force. Whereas a skilled and flexible labor force exists in West Germany, Americans are poorly trained and barely assisted in finding jobs and training. To remedy this situation Janoski puts forth bold and useful policy recommendations, including the creation of a new organization to operate in national labor markets, the development of technical training programs in high schools, and the creation of a youth service to prevent teenage crime. The Political Economy of Unemployment offers a trenchant examination of how modern industrialized nations deal with the vicissitudes of the economy and how they might develop and implement more effective labor market policies. Meticulously researched, it is an important contribution which policymakers and social scientists will find provocative and useful.
