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Craft, Vanessa. "Central bank credibility, endogenous beliefs and short-run Phillips curves." Diss., Virginia Polytechnic Institute and State University, 1987. http://hdl.handle.net/10919/49839.
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Horton, Wendy Elizabeth. "A vector autoregressive model of a regional Phillips curve in the United States." Thesis, Georgia Institute of Technology, 1996. http://hdl.handle.net/1853/30515.
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Ralston, Roy W. "The Effects of Socio-Structural, Economic, and Race Considerations on Rates of Property Crime in the United States, 1958-1993." Thesis, University of North Texas, 1996. https://digital.library.unt.edu/ark:/67531/metadc279181/.
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This study investigates changes in rates of property crime in the United States from 1958 to 1993. Predictor variables include changes in rates of economic factors (inflation, technological/cyclical/frictional unemployment), arrest rates for property crimes disaggregated by race (ARPCDR), interaction of ARPCDR and technological unemployment, alcohol offenses, interaction of alcohol offenses and poverty, drug abuse violations, and interaction of drug abuse violations and poverty. Changes in poverty, population growth, and police presence are employed as control variables. The Beach-McKinnon Full Maximum- Likelihood EGLS AR1 Method (accompanied by residual analysis) is used to test seven hypotheses. Significant positive effects upon changes in aggregate property crime rates are found for five predictors: (a) inflation, (b) cyclical unemployment, (c) frictional unemployment, (d) the interaction of white arrest rates and technological unemployment, and (e) the interaction of rates of alcohol offenses and poverty.
To explain changes in property crime rates, further research should decompose aggregate rates particularly those pertaining to the economy. Also, the relationship between the interaction of poverty and drug abuse violations, at the aggregate level, and changes in property crime rates should be clarified.
This research has important policy implications related to the impact of social, economic, and educational issues on mainstream society and its criminal elements. Law makers should consider this type of research in all macro and micro-oriented policies.
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Govera, Hemish. "The relationship between inflation and unemployment." University of the Western Cape, 2017. http://hdl.handle.net/11394/5923.
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Magister Commercii - MCom (Economics)The nature of the relationship between inflation and unemployment has implications for the appropriate conduct of monetary policy. However, the question as to whether the traditional Phillips curve relationship holds true remains debatable despite advances in both theoretical and empirical evidence. This study revisits this debate for South Africa by examining data on unemployment, the repo interest rate and core CPI for the period from 1994Q1 to 2015Q4. This was in the light of recent developments in both theoretical and empirical Phillips curve literature. The research employed a hybrid version of the NKPC and various econometric techniques. The Augmented Dickey-Fuller test was used to examine the unit root properties of the data series. The Johansen cointegration technique was applied to test for cointegration among the variables. The research derived and estimated an error correction model for inflation. The model results demonstrated that the repo interest rate is statistically significant in explaining inflation. The VECM was derived and estimated to examine both short-run and long-run relationships among the variables. The results confirmed the existence of a positive but insignificant long-run relationship between unemployment and inflation. The study used the Granger causality test to ascertain the nature of causality among the variables. The research established the presence of unidirectional Granger causality running from core CPI to unemployment. Forecast error variance decomposition shows that large percentages of variations in each variable are attributable to each variable respectively. The empirical findings are helpful to the understanding of the Phillips curve relationship in South Africa and emerging economies in general.
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Kapadia, Sujit. "Essays on unemployment and inflation dynamics." Thesis, University of Oxford, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.425721.
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Sköld, Edvin, and Kaleb Tesfay. "The relationship between inflation and unemployment in Sweden." Thesis, Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-48586.
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Lee, Jae Joon. "Studies on the Phillips curve /." Thesis, Connect to this title online; UW restricted, 2004. http://hdl.handle.net/1773/7498.
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Khetan, Sood Premlata. "Profit sharing, unemployment, and inflation in Canada, a simulation analysis." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1997. http://www.collectionscanada.ca/obj/s4/f2/dsk2/tape16/PQDD_0002/NQ30390.pdf.
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Donovan, John Christopher. "The inflation-unemployment trade-off in the United States revisited." Thesis, Georgia Institute of Technology, 2001. http://hdl.handle.net/1853/28564.
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Sood, Premlata Khetan. "Profit sharing, unemployment, and inflation in Canada : a simulation analysis." Thesis, McGill University, 1996. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=34459.
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The thesis examines the impact of a partial switch to a share system in Canada on unemployment and inflation. Simulations with an independent Canadian macro model and Canadian data for the period 1973-1983 show that profit sharing will not always resolve unemployment and inflation, as claimed by Martin Weitzman. Some combinations of the share parameters resolve them, while others aggravate them. Thus, the combinations of the share parameters play a key role in terms of impact of the profit sharing on unemployment and inflation.
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Cavalcanti, Ricardo de Oliveira. "Inflação, estagnação e incerteza teoria e experiência brasileira /." Rio de Janeiro : [BNDES], Departamento de Relações Institucionais, Gabinete da Presidência, 1990. http://catalog.hathitrust.org/api/volumes/oclc/29952107.html.
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Chicheke, Aaron. "Monetary policy, inflation, unemployment and the Phillips curve in South Africa." Thesis, University of Fort Hare, 2009. http://hdl.handle.net/10353/d1001202.
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Inflation and unemployment are perhaps the two most important challenges that face the South African economy of today. Firstly, the study examines the relationship between monetary policy and the two economic fundamentals (inflation and unemployment), using the VEC modeling technique. The model regresses the monetary policy variable against inflation and unemployment growth over the period 1980-2008. The results suggest that (1) there is a long run relationship between inflation and unemployment (2) monetary policy reacts more to variations in inflation compared to variations in unemployment. Secondly, the relationship between inflation and unemployment as explained by the Phillips curve is investigated. The results show that there is a positive relationship between inflation and unemployment.
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Khan, Najib. "Three Essays on the Macroeconomic Impact of Inflation Targeting." Thesis, Université d'Ottawa / University of Ottawa, 2016. http://hdl.handle.net/10393/35212.
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This doctoral thesis contains three essays on the macroeconomic impact of inflation targeting:
(1) Inflation-targeting regime, as a framework for monetary policy conduct, has been adopted by central banks in thirty countries. Some of these countries enjoy high incomes while others have middle incomes. In contrast to the development-based classification –often applied in the literature, thus ignoring income disparity– this study employs income-based classification in constructing the data sample. The objective is to investigate, using a panel of middle-income countries, whether inflation targeting is a good remedy for high inflation. In addition to the commonly used covariates in the literature, this study also includes in its covariate matrix the worldwide governance indicators as proxy for institutional quality. The findings exhibit a significant reduction of inflation and its volatility among the inflation-targeting adopters compared to the non-adopting middle-income countries. The results are robust to the exclusion of high inflation episodes, and to using the alternative measures of inflation. The results are also robust to the post-estimation sensitivity tests recommended for such empirical analysis.
(2) Many economists acknowledge the paramount role that foreign investment plays in fostering economic development and growth via integrating economies around the globe. Studies have shown that foreign investment, particularly foreign direct investment (FDI) is attracted to countries that exhibit good governance, low uncertainty and a high degree of macroeconomic stability. The literature also argues that monetary policy under inflation targeting (IT) mitigates uncertainty, enhances governance and brings macroeconomic stability to the adopting countries. Hence, it would seem that the IT-adoption should enable the adopting countries attract the largest FDI inflows. To verify this conjecture, this study performs a comparison between the IT-adopting countries and the non-adopters in attracting FDI. Using a panel of OECD and middle-income countries, the empirical findings exhibit an interesting but contradicting pattern: when it comes to the OECD countries, the results show that the IT-adopters do better than the non-adopters in attracting the FDI inflows. For the middle-income countries, however, the IT-adoption appears to have the opposite effect: a significant reduction in the FDI inflows is witnessed among the IT-adopters compared to their counterparts. The results are robust to the post-estimation sensitivity tests.
(3) Inflation targeting, as a monetary-policy framework, is said to promote economic efficiency and growth. Yet, when evaluating the macroeconomic performance of inflation-targeting regimes, the existing literature only emphasizes the dynamics of inflation and the costs associated with taming inflation. There is hardly any assessment of the claim of efficiency and growth. To fill this gap, and to measure the causal impact of inflation-targeting adoption on economic efficiency, we compare the dynamics of output growth and long-term unemployment between countries that have adopted inflation targeting and the non-adopting countries. Our findings seem to refute the efficiency claim, and paint a bleak picture of inflation targeting: when compared to the countries that did not adopt inflation targeting, there is a significant reduction in the average growth rate among the inflation-targeting adopters by over ½ percentage point. Additionally, long-term unemployment significantly rises among the inflation-targeting countries by almost 2 percentage points as compared to the non-adopters. These results are robust to both the exclusion of the outlier observations and to the sensitivity tests recommended for such analysis.
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Бондаренко, Володимир Федорович, Владимир Федорович Бондаренко, and Volodymyr Fedorovych Bondarenko. "Інфляція та безробіття в економіці України." Thesis, Видавництво СумДУ, 2004. http://essuir.sumdu.edu.ua/handle/123456789/23337.
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Calvert, Paul Wesley. "The effect of inflation on interest rates." Thesis, Montana State University, 1988. http://etd.lib.montana.edu/etd/1988/calvert/CalvertP1988.pdf.
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This thesis addresses the effect of expected inflation on interest rates, and in so doing attempts to., replicate the findings of John Makin. In order to obtain an unbiased estimate of the effect of expected inflation on interest rates, other variables, such as inflation uncertainty, Federal budget deficits, the state of the business cycle and Federal Reserve policy, were included in the model. The model is a reduced form, modified IS-LM macroeconomic model with a money sub-model to separate expected from unexpected monetary policy. The regressions showed that a 1% change in expected inflation causes about a .915% change in short-term Treasury Bill yields; however, the results depend on the sample period and heteroscedasticity .correction employed. The point estimate of .915 for the expected inflation coefficient is similar to what many researchers have estimated. The coefficients for inflation uncertainty, the Federal budget deficits, and the business cycle were not significant. The attempt to replicate the results of John Makin was not successful. The R ² and coefficients for expected inflation and inflation uncertainty were different; however, the coefficients for unexpected monetary policy and the intercept term were quite similar.
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Cloutier, Mark Andrew. "Rethinking the Phillips Curve: A Study of Recent Inflation Dynamics in the G-7." Thesis, Boston College, 2012. http://hdl.handle.net/2345/2654.
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Thesis advisor: Robert MurphyA study of recent inflation dynamics in the G-7, this paper discusses a problem with the Phillips curve which arose during the Great Recession (2008-2011). We find that work with time-varying slope, expectation anchoring, and core inflation can correct for the under-predictions that develop in the Phillips Curve during the recession, improving its accuracy throughout the G-7
Thesis (BA) — Boston College, 2012
Submitted to: Boston College. College of Arts and Sciences
Discipline: Economics Honors Program
Discipline: Economics
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Kittisowan, Chatchawal, Nuttanee Piboonthanakiat, and Salisa Orutsahakij. "AEC Implication: Effect towards Thailand's unemployment rate." Thesis, Linnéuniversitetet, Ekonomihögskolan, ELNU, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-12258.
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Since ten members of ASEAN are moving towards ASEAN Economic Community (AEC) in 2015 which ten member countries are integrating competitively into regional and global markets as well as continuing to build a people-oriented AEC. From this integration the unemployment rate will be affected through the mechanism of the export and GDP. With economics and econometrics models used, this paper will discuss and prove that the implication of AEC will lead to the decrease in unemployment rate.
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Rampon, Edson. "Inflação, produto e emprego : uma avaliação do regime de metas de inflação no Brasil (1999-2014)." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2015. http://hdl.handle.net/10183/132997.
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O objetivo desta dissertação, primeiramente, é analisar empiricamente se a adoção do regime de metas de inflação (RMI) tem se mostrado eficaz ao longo dos anos no controle e manutenção dos índices de preços. Posteriormente é analisado o grau de impacto da condução da política monetária, imposta pelo RMI, sobre a taxa de desemprego e crescimento real do produto. Para alcançar estes objetivos, é feita uma análise comparativa dos períodos que compreendem o antes e o depois da adoção (até o ano de 2014) deste regime monetário, em especial o caso brasileiro. Outros objetivos incluem, com o intuito de melhor compreender a operacionalização do RMI, discutir as principais teorias de inflação e de regimes monetários, enfatizando o RMI por ser objeto central deste estudo. Desta forma, são discutidos os fundamentos teóricos, seus formatos estruturais, bem como as vantagens e desvantagens apontadas pelos críticos deste regime. Por fim, é apresentada a conclusão acerca da eficácia, ou não, deste regime na manutenção de baixos índices de inflação, e se o mesmo sacrificou em algum grau os níveis de emprego e produto, em especial no Brasil.The first aim of this dissertation is to examine empirically whether the adoption of inflation targeting regime (IT) has proven effective over the years for the control and maintenance of low and stable inflation rates. Next, it is analyzed the impact of monetary policy based on the IT on the unemployment rate and real GDP growth. To achieve these goals, a comparative analysis is carried out, following the “before and after” methodology (until the year 2014), focusing especially on the Brazilian case. Other objectives include achieving a better understanding about the operation of the IT, discussing the main theories of inflation and monetary regimes, emphasizing the IT. Thus, the theoretical foundations of the IT are presented, its many structural formats, as well as the advantages and disadvantages cited by critics of this regime. Finally, the work presents the conclusion about the effectiveness, or lack thereof, of this regime in maintaining low inflation rates, and if it has sacrificed employment levels and product, especially in Brazil.
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Pettersson, Klara. "Employment securities effect on unemployment : A study about the effect of employment securities on unemployment in the OECD countries." Thesis, Umeå universitet, Nationalekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-161081.
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This thesis examines how employment security, that is employment protection legislation, unemployment benefit and trade union density, affects unemployment in the OECD countries. The theoretical framework suggests that employment protection can have both positive and negative effects on unemployment depending on whether the effect of job destruction or job creation is larger. By using two fixed effects models with different measurements of unemployment as dependent variables, the result show that employment protection legislation decreases unemployment while trade union density increases unemployment. However, unemployment benefits do not show any significant effect on unemployment. The results are not in line with the features of the increasingly used flexicurity model, that is possibly because flexicurity may not be applicable in all countries due to differences in labour market structures and cultural differences.
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Calson-Öhman, Frida. "The effect of increased e-commerce on inflation." Thesis, Södertörns högskola, Nationalekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-35495.
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The purpose of this essay is to answer the following questions: Has the increased e-commerce had a negative impact on the inflation, and is the effect decreasing? and: Is there a long term and/or short term effect by the increased e-commerce on the inflation? To answer the first question a fixed effects regression model is applied, based on panel data for 28 European countries for the time period 2006-2017. The regression obtains results that support the hypothesis that the increased e-commerce has had a negative effect on inflation. Furthermore, the result indicates that the effect is decreasing. The second question is answered with the help of an Error Correction Model and time series data for Sweden during the period 2006-2017. The result shows that there is an error correction towards a long run equilibrium and the short term estimates indicate that there is a negative short term effect of the increased e-commerce on inflation. These results are in line with the hypothesis of this essay as well as previous studies that have examined similar questions.
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Kuchařík, Tomáš. "Nezaměstnanost a inflace v České republice a sousedních zemích." Master's thesis, Vysoká škola ekonomická v Praze, 2017. http://www.nusl.cz/ntk/nusl-359319.
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The aim of this thesis is to verify the existence of dependence between inflation and unemployment through the Phillips curve in the Czech Republic and its neighboring countries (Poland, Austria, Slovakia and Germany). This observed relationship is complemented by the economic development of both macroeconomic variables in these countries. The first chapter is devoted to the theoretical background of inflation, unemployment and Phillips curves. In the second chapter, the data used to verify the existence of the inverse relationship between inflation and unemployment is defined. The third chapter is country-by-country, with the development of inflation and unemployment rates first and then Phillips curves based on available data. The last section is devoted to a summary of the achieved results.
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Morar, Derwina. "Inflation threshold and nonlinearity: implications for inflation targeting in South Africa." Thesis, Rhodes University, 2011. http://hdl.handle.net/10962/d1002718.
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Following many other central banks around the world, the South African Reserve Bank has adopted inflation targeting as its monetary policy framework. The aim of this is to achieve low levels of inflation in order to attain price stability thereby promoting growth. In South Africa, the chosen band to target is 3%–6%. This has been criticised by many trade unions who are calling for the abandonment of inflation targeting. Despite targeting 3%–6%, it is not known whether this is the optimal inflation range for South Africa. Therefore, the aim of this study is to determine the inflation threshold level for South Africa using quarterly data for the period 1983 to 2010. The first section determines whether or not there is a long-run relationship between inflation and growth using the Johansen cointegration method. Exogeneity tests determine the causality between these variables. Vector error correction models are estimated if cointegration is found. The second part determines the threshold level of inflation using the method of conditional least squares. The inflation level that maximises the R-squared value and minimises the residual sum of squares gives an indication of the threshold level. The third part of the study determines whether or not inflation volatility has a significant impact on growth. The first part established that there is long-run comovement between inflation and growth.The causality is bidirectional with both variables being endogenous.Findings regarding the threshold level show that the current inflation targeting band of 3%–6% may be extended up to 9.5%. In addition, the range of inflation from 5.5% to 6.5% promotes economic growth in South Africa. Finally, the evidence suggests that inflation volatility does not have a significant impact on economic growth and the focus of policy should be directed towards the level of inflation as has been the case.
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Hineline, David R. "Essays on inflation and growth." Columbus, Ohio : Ohio State University, 2003. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1060957983.
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Thesis (Ph. D.)--Ohio State University, 2003.Title from first page of PDF file. Document formatted into pages; contains xi, 129 p.; also includes graphics. Includes abstract and vita. Advisor: Eric O'N. Fisher, Dept. of Economics. Includes bibliographical references (p. 126-129).
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ZHOU, Youqing. "Transmitted unemployment and exchange rate effect on labor market." Digital Commons @ Lingnan University, 2010. https://commons.ln.edu.hk/econ_etd/1.
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This thesis examines the link between exchange rate and unemployment. The unemployment problem in an open economy has mostly been discussed at the micro level. Previous studies focus on job losses from trade by the manufacturing industries. However, the macro level relationship between exchange rate and unemployment has been largely ignored. The aims of this study are twofold. Firstly, a simple theoretical relationship between exchange rate and unemployment is established by the PPP and Phillips curve. The model shows that, under the linked exchange rate system, the unemployment in currency-linked country is a function of the unemployment in the base country, the changes in the exchange rate, the rate of price change differential between the two countries, and the natural rate of unemployment differential between the two countries. By using Hong Kong data, we find that one percent increase in the U.S. unemployment rate transmits 0.53 percent increase in Hong Kong.
Under the floating system, we analyze this problem in the United Kingdom, Germany, and France, which predominantly represent Europe. We investigate the magnitude of the transmitted unemployment and the exchange rate impact among those countries before and after the new currency. We find that the transmission effects are significant, which partially explain the severity of this long-lasting problem. To shed new light, we construct a three-sector model comprising goods market, labor market, and money market. We postulate that domestic product market faces import competition. Thus the exchange rate comes into play, intrinsically affecting the labor demand. In the meantime, we extend the standard money demand function by including both the domestic and foreign money balances. We believe that this extension better reflects the reality. We then solve the general equilibrium model to get the reduced-form solution with our focus on the relationship between exchange rate and employment. We find that the exchange rate effect is unconditional in that home currency depreciation benefits employment and alleviates the unemployment problem.
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Rochon, Louis-Philippe. "The regionalization of the unemployment insurance programme in Canada : its effect on income redistribution, Newfoundland and Ontario, 1980-1988." Thesis, McGill University, 1990. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=60081.
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The evolution of the Unemployment Insurance Programme since 1940 has led to the abandonment of the intended insurance nature of the programme. As a result, it can no longer be considered solely an income protection scheme. Rather, it has evolved into an income maintenance plan aimed at supplementing the income of seasonal workers in high unemployment regions. As a consequence, there has been an interprovincial transfer of unemployment insurance funds from low to high unemployment regions. The regional characteristics of the programme have also distorted the structure of labour markets in high unemployment regions by attracting workers in seasonal industries therefore maintaining unemployment rates high.
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Graham, Ian. "The influence of an expository and a Piagetian-based teaching methodology on the mastery of the ill-structured problem of stagflation /." Title page, contents and abstract only, 1992. http://web4.library.adelaide.edu.au/theses/09EDM/09edmg739.pdf.
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Nüß, Patrick. "An empirical analysis of the Phillips Curve : A time series exploration of Germany." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-27177.
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The purpose of the paper is to explore the relationship between inflation and unemployment in Germany during the period from 1970 to 2012. Through the methods of cointegration, dynamic OLS and an error correction model, this paper highlights that there is no short run negative relationship between inflation and unemployment, and consequently the short run Phillips curve is an unsuitable instrument for making political decisions. Furthermore, there is a long run relationship between inflation and unemployment, which can be explained with asymmetric nominal wage rigidities and resulting frictional growth. Resulting policy implications reflect the advantage of a permanent higher inflation target for Germany. Since the beginning of the European Monetary Union, Germany has been on average 0.5% under the permanent inflation target of the central bank. Therefore, by using fiscal policy, Germany can reduce permanent unemployment without missing the inflation target of the central bank. Finally, despite of variety of intensive changes in the macroeconomic situation and particularly through the establishment of the European Monetary Union, the CUSUM and CUSUMsq test reveal that the estimate holds validity over the entire observation period and has not changed since the beginning of the European Monetary Union.
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Owyang, Michael T. "Three essays on the behavior of monetary policy /." Diss., Connect to a 24 p. preview or request complete full text in PDF format. Access restricted to UC campuses, 2000. http://wwwlib.umi.com/cr/ucsd/fullcit?p9987542.
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Nicoletti, Andrea. "Effect of new string loop corrections on type IIB string inflation." Master's thesis, Alma Mater Studiorum - Università di Bologna, 2021.
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This Master thesis is focused on the study of the inflationary dynamics coming from new corrections added to the standard LVS framework used in the context of moduli stabilisation in type IIB string compactifications on Calabi-Yau orientifolds. The closed string sector of the 4D effective supergravity theory features 3 classes of moduli: the dilaton which sets the string coupling, the complex structure moduli which parameterise the shape of the extra dimensions, and the Kaehler moduli whose vacuum expectation value controls the size of the extra dimensions. At tree-level the dilaton and the complex structure moduli are stabilised supersymmetrically in terms of 3-form flux quanta. On the other hand, the Kaehler moduli are flat directions due to the underlying no-scale cancellation. It is therefore important to study which perturbative or non-perturbative correction to the effective action generates the leading order no-scale breaking effect. Several contributions have been studied in the past ranging from ED3 instantons, gaugino condensation, alpha' corrections and string loops. In this Master thesis we will focus in particular on new string loop corrections to the Kaehler potential which have been derived recently by Antoniadis and collaborators. These corrections introduce a Kaehler moduli-depedent logarithmic shift of the Calabi-Yau volume that breaks the no-scale structure. We analyse the effect of these new corrections on known moduli stabilisation scenarios like KKLT and LVS and then study its repercussions on cosmological and inflationary quantities in order to make some realistic predictions and match experimental data.
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El-Helou, Majed. "The effect of the exchange rate regime on unemployment and GDP." Thesis, University of Ottawa (Canada), 2001. http://hdl.handle.net/10393/9113.
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The issue to be examined is whether flexible exchange rates result in less variability in GDP and unemployment rates. Basically, with a fixed exchange rate governments cannot allow the exchange rate to fluctuate in response to external shocks to the economy, nor are they as able to use monetary and/or fiscal policy to respond to external shocks. Since an external shock cannot be accommodated by a nominal change in the exchange rate or through monetary policy, such shocks must be accommodated by changes in real economic activity, i.e., changes in GDP and unemployment. With a flexible exchange rate, an external shock can be accommodated by a change in the exchange rate, or through monetary and/or fiscal policy and should thus have less impact on unemployment and GDP. This hypothesis is theoretically studied and explained more widely in the thesis and is tested with the data available.
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Karlsson, Linus, and David Sunesson. "The effect of innovation on unemployment levels in different educational groups." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96249.
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This paper investigates what effect innovation has on unemployment rates in different educational groups. Two measures for innovation is used, patent applications and triadic patent families. How different educational groups is affected is something this paper aim to contribute to since not much research has been done in this area. The paper also means to find if these effects are different in poor countries compared to rich countries. Previous research has showed mixed results concerning the effect that innovation has on unemployment, which makes this topic interesting. One earlier study imply that less developed countries might transfer easily to new labour market conditions while another point out that highly educated workers is the way forward. A panel dataset of 24 countries, studying the years 1998 to 2017, has been constructed. The countries are all European except for the United States and Canada. Using fixed effects regressions with fixed effects for both country and year as well as pooled OLS regressions with clustered standard errors, statistically significant positive effects was found, however not in all education groups. All educational groups seem to be affected positively, however. The difference between poor and rich countries was not clear, since no statistically significant results was obtained. This paper concludes that, to fully capture the effect that innovation has on unemployment, and to obtain results which can provide policymakers with useful information, patents alone might not be sufficient.
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Barnard, Russell. "Implications of a modern phillips curve." Thesis, Boston College, 2017. http://hdl.handle.net/2345/bc-ir:107432.
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Thesis advisor: Robert MurpheyThis paper demonstrates that a linear Phillips Curve has neither theoretical nor empirical justification. I first alter the traditional linear model specification to allow for non-linearity between inflation and unemployment. I show that these non-linear models produce greater R2’s than similar linear versions. I provide theoretical justification for the non-linear models and demonstrate why the theoretical reasoning for linear models is flawed. Finally, by introducing the natural rate of unemployment as a separate independent variable, I increase the explanatory power of the model. I allow the natural rate’s marginal effect on inflation to vary with time and suggest a theoretical framework that supports this final model. I conclude that non-linearity and therefore convexity between inflation and unemployment is the correct framework under any time period for Phillips Curve analysis and application
Thesis (BA) — Boston College, 2017
Submitted to: Boston College. College of Arts and Sciences
Discipline: Departmental Honors
Discipline: Economics
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Pettersson, Pia. "Does unemployment contribute to a poor self-esteem, and does social support, coping and perceived control have any effect during unemployment." Thesis, Högskolan i Gävle, Avdelningen för arbets- och folkhälsovetenskap, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-12227.
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Purpose: The purpose of the study was to examine whether self-esteem can be affected by unemployment and whether social support, self efficacy and perceived control have any effects on self-esteem during unemployment. Method: The study was of a quantitative and descriptive character and a convenience sample was used. Questionnaires were distributed to 64 unemployed males and females at a job-centre inEast Midland,England. The questionnaire consisted of 12 questions about the participant’s age, gender, education, length of unemployment, social support (meaning emotional support and help from friends and family), coping (meaning a person’s ability to handle a stressful and emotionally demanding situation).Rosenberg's self-esteem scale was also added into the questionnaire and the results were then analyzed by using a Likert scale. Results: The results showed, that the majority of the unemployed scored 30 or higher on the self-esteem scale which indicates a low self-esteem according toRosenberg's self-esteem scale. Regarding social support from friends during job loss or unemployment, the majority of the unemployed with a low self-esteem, felt they didn't have social support from friends during unemployment. A small part of the unemployed who had high self-esteem, felt they had social support from friends during unemployment. Discussion: Self-esteem is complex, and it was difficult to generalize the results in this study. However, it seems that social support, self efficacy and coping were important aspects regarding self-esteem.
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Chee, Chung Gu. "The Effect of Two Extensive Margins on Unemployment and the Labor Wedge." The Ohio State University, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=osu1366356533.
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Černá, Jitka. "Porovnání stavu nezaměstnanosti v závislosti na inflaci v ČR a v některých dalších státech EU." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-10938.
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The aim of my diploma is comparison of relationship between unemployment rate and inflation rate from the point of view of the Czech Republic and other four EU states during last 10 years (1997-2007). The comparison of concrete data of unemployment rate and inflation rate in these states helps to confirm or refuse precondition of mutual dependence of these two parameters.
36
Buchheim, Viktor, and Mikael Kedert. "Digitisations effect on the inflation rate : An empirical analysis of possible digitisation channels." Thesis, KTH, Industriell ekonomi och organisation (Inst.), 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-189769.
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This thesis investigates the impact of a more digitised economy on the inflation rate. European countries have historically done well in reaching their inflation target. In recent years however, policymakers have been puzzled over low inflation rates that seem to be difficult to stimulate. Just recently the impact of digitisation on price stability has gained some interest in economic research however the lack of empirical evidence on this relationship is severe. Based on scarce literature and existing theories hypotheses were constructed to test certain digitisation channels effect on the inflation rate. By gathering relevant data on inflation and the identified digitisation channels for 17 European countries over an 11- year period, econometric models corresponding to the hypotheses were analysed. The estimated results show that digitisation have a varying net-effect on the inflation rate, demonstrating that digitisation plays a role in determining fluctuations in price stability when controlling for other macroeconomic factors. These findings indicate that policymakers should consider digital technological development when targeting inflation, even though the effects may be temporary.
37
Reyes, Altamirano Javier Arturo. "Inflation targeting in emerging countries the exchange rate issues /." Texas A&M University, 2003. http://hdl.handle.net/1969/262.
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Johnson, Anya Madeleine. "Managers' experience of unemployment and re-employment : effect on individuals and their partners." Thesis, University of Manchester, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.487997.
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This thesis explores the experience ofWlemployment and re-employment for managers who experience a job loss and are compensated financially and supported by career transition counselling during Wlemployment. It also explores the experience for the partners ofthese managers. The unique characteristics ofthis group provide an insightful perspective on Wlemployment and this thesis makes a theoretical contribution to the Wlemployment, family and the work stress cross over literature. Career transition counselling cushions Wlemployment but managers continue to be vulnerable to psychological strain. For this group it is the cognitive and emotional demands associated with loss, and lack ofstructure and the constraints ofagency which are the dominant drivers ofpsychological strain, rather than financial security, while a positive outlook is protective. Underlying these dominant drivers, family relationships and social support also provide some protection. These variables combine elements ofWarr's (1987), Jaboda's (1972) and Fryer's (1995) theory of unemployment, within the framework ofthe transactional model ofstress. Interestingly the female partners ofthese unemployed managers are also vulnerable to psychological strain, and there is evidence ofcross over ofpsychological strain between partners. Relationship characteristics ofcohesion, adaptability and relationship strain (Olson, 1993) also cross over between partners. The partners at highest risk ofpsychological strain are women in well paid positions with relationship .strain and lower levels ofsocial support. After re-employment the supported managers are significantly less vulnerable to psychological strain, although their partners' levels ofpsychological strain remain high. Relationship characteristics and social support appear to have less effect on psychological strain after re-employment, although there continues to be evidence of cross over between partners. Job quality is important to psychological strain, with congruency and job satisfaction rather than money being most important. A change in career and low fmancial security are associated with increased psychological strain for the partners. Managers who change careers are more committed, have greater confidence and feel more effective, although this increased confidence is associated with their partners' psychological strain.
39
Curto, Millet Fabien. "Inflation expectations, labour markets and EMU." Thesis, University of Oxford, 2007. http://ora.ox.ac.uk/objects/uuid:9187d2eb-2f93-4a5a-a7d6-0fb6556079bb.
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This thesis examines the measurement, applications and properties of consumer inflation expectations in the context of eight European Union countries: France, Germany, the UK, Spain, Italy, Belgium, the Netherlands and Sweden. The data proceed mainly from the European Commission's Consumer Survey and are qualitative in nature, therefore requiring quantification prior to use. This study first seeks to determine the optimal quantification methodology among a set of approaches spanning three traditions, associated with Carlson-Parkin (1975), Pesaran (1984) and Seitz (1988). The success of a quantification methodology is assessed on the basis of its ability to match quantitative expectations data and on its behaviour in an important economic application, namely the modelling of wages for our sample countries. The wage equation developed here draws on the theoretical background of the staggered contracts and the wage bargaining literature, and controls carefully for inflation expectations and institutional variables. The Carlson-Parkin variation proposed in Curto Millet (2004) was found to be the most satisfactory. This being established, the wage equations are used to test the hypothesis that the advent of EMU generated an increase in labour market flexibility, which would be reflected in structural breaks. The hypothesis is essentially rejected. Finally, the properties of inflation expectations and perceptions themselves are examined, especially in the context of EMU. Both the rational expectations and rational perceptions hypotheses are rejected. Popular expectations mechanisms, such as the "rule-of-thumb" model or Akerlof et al.'s (2000) "near-rationality hypothesis" are similarly unsupported. On the other hand, evidence is found for the transmission of expert forecasts to consumer expectations in the case of the UK, as in Carroll's (2003) model. The distribution of consumer expectations and perceptions is also considered, showing a tendency for gradual (as in Mankiw and Reis, 2002) but non-rational adjustment. Expectations formation is further shown to have important qualitative features.
40
Lepa, Henri, and Linh Dieu Pham. "The Phillips Curve and the Global Financial Crisis : A study on the Nordic countries from 1999 to 2016." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-40399.
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This paper examines the effects of the Global Financial Crisis on the relationship between unemployment and inflation rate through the Phillips Curve in five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden, from 1999 to 2016. The Nordic countries are quite unique in the world, as they are all economically and culturally connected to each other, which allows us to analyse how the crisis affected them differently. The foundation of our research is the Phillips Curve, which shows an inverse relationship between unemployment and inflation. By using the two-way fixed effects model, we have investigated whether the Phillips Curve and the relationship still holds during the time of the crisis for the Nordic countries. The results have shown that the relationship has changed during the crisis period, which might be due to the unemployment shock and the low targeted inflation rate.
41
Boldrin, Nico. ""Three Essays on the New Keynesian Phillips Curve"." Doctoral thesis, Università degli studi di Padova, 2008. http://hdl.handle.net/11577/3425578.
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This PhD thesis is composed by three essays which tackle recent and controversial aspects of the New Keynesian Phillips curve subject. The first chapter presents a critical survey about the New Keynesian Phillips curve focusing on the so-called “divine coincidence” problem. The second chapter proposes an extension of the Blanchard and Galì New Keynesian Phillips curve and shows that this new formulation helps to explain inflation dynamics. The third chapter examines an extended version of the small-scale New Keynesian model a la Woodford (2003) to assess the role of oil price shocks in influencing inflation and unemployment volatility.
42
Small, Ian Christopher. "The theory and effect of the UK's supply-side policy on the labour market." Thesis, Queen Mary, University of London, 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.294751.
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Brown, Charles. "THE EFFECT THAT HURRICANES HAVE ON UNEMPLOYMENT IN COASTAL COUNTIES IN THE UNITED STATES." Scholarship @ Claremont, 2013. http://scholarship.claremont.edu/cmc_theses/571.
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This thesis aims to measure the potential effect that hurricanes have on unemployment rates in coastal counties from Texas to North Carolina. I used a panel data set that included all the county level unemployment statistics from 1990 to 2011 as well as the relevant descriptive attributes for all the storms and hurricanes that passed through these counties during that time period. I also did an event study to analyze the unemployment rate in these counties after a hurricane. The event study includes every category two hurricane and above that hit these coastal counties from 1990 to 2011.
44
HernaÌndez, Licona Gonzalo. "The effect of household poverty on participation, working hours and unemployment in urban Mexico." Thesis, University of Oxford, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.319150.
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Thompson, Erica L. "Effect of state unemployment rate on attrition for first-term U.S. Navy enlisted attrition." Thesis, Monterey, California. Naval Postgraduate School, 2011. http://hdl.handle.net/10945/5744.
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Approved for public release; distribution is unlimited.This thesis analyzes the effects of unemployment on first-term attrition for U.S. Navy enlisted personnel in the pay grades of E-1 to E-9 with no prior service that attrited between fiscal years 1999 and 2007. Four separate probit models were formed to analyze the effect of the state unemployment rate on first-term attrition for Navy enlisted personnel for cohorts during six months of service, 12 months of service, 24 months of service and 45 months of service. A second model type analyzed attrition over a specific period of time. Attrition was estimated during six months, between 6-12 months of service, between 12--24 months of service and between 24--45 months of service. These models were developed to predict the likelihood of an enlisted sailor attriting when state unemployment rates increase by one percentage point. The independent variables for the two models types included demographic variables, such as Black, White, Asian, Native American, other race, education years, age, female, male, AFQT__score, pay grade dependents, no dependents, first enlistment with bonus, and first enlistment no bonus. Dummy variables for 1999-2007 and dummy variables for states were created to explain any bias of attrition by circumstances, such as the economy. Consistent negative effects on attrition included unemployment rate, Blacks, AFQT scores, years of education and pay grade. Positive influences included age, having no dependents, and females.
46
Maluleke, Tiyeselani Clara. "The relationship between poverty and inflation in Sharpeville / Tiyeselani Clara Maluleke." Thesis, North-West University, 2012. http://hdl.handle.net/10394/10303.
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All over the world, the level of poverty is increasing. In South Africa it is mainly concentrated in rural areas and differs significantly from whether considering race, sex, provinces or community areas. This dissertation studies the relationship between poverty and inflation in Sharpeville by determining the impact of rising prices on the poor households in Sharpeville. The study focuses on three areas, namely the theoretical background of poverty and inflation, the impact of rising prices in expenditure patterns and the relationship
to poverty. There are different approaches in defining poverty. Poverty can either be
absolute or relative. For the purpose of this study, poverty is defined as absolute. Thus the study defines individuals as poor due to their inability to attain a minimum material standard of living. This minimal standard of living is normally referred to as the poverty line. Inflation may be defined in different ways. For the purpose of this dissertation, inflation is defined as the rise in the general price levels over a specific period of time. Changes in expenditure patterns are caused by an increase in inflation. This study uses the regression model to determine the impact of inflation on poverty in Sharpeville. According to the macroeconomic theory’s implication, the same level of inflation on the same basket of commodities has a different level of effect on each household. Accordingly, in this study, all households are
assumed to be faced with the same inflation rate. Household size is positively related to poverty gap squared. This means that the more members there were in a household in Sharpeville the poorer they were. Households with the highest number of members were poorer than those with few members. Statistically, the null hypothesis that there is no relationship between household size and poverty gap is rejected, even at the 1% level of significance. EXPINFL is negatively related to poverty gap. The correlation matrix confirms the results in the regression analysis. The correlation coefficient between The relationship between poverty and inflation in Sharpeville Page EXPINFL and PGAP is -0.34467. Although it is relatively weak, the fact that there is a negative correlation confirms that inflation negatively affects poverty. Finally, the study recommends that government provides more job opportunities for the individuals without any source of income in Sharpeville. The government could also provide business funding to the unemployed individuals to enable them to start their own businesses. This would enable those individuals to create additional employment. In addition, measures should be introduced to determine the effect of inflation on those households who are not employed (that is, not receiving any form of income, not even through any form of grant), but do benefit from some form of feeding scheme administered by either government or non-profit organisations.MCom, Economics, North-West University, Vaal Triangle Campus, 2012
47
Oliveira, Luma de. "Inflação e desemprego : ensaios sobre a curva de phillips para a economia brasileira." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2017. http://hdl.handle.net/10183/168651.
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A presente tese, a partir de três ensaios, faz uso de diferentes especificações da curva de Phillips, para discutir distintos objetivos embasados em assuntos relevantes como o processo de determinação de preços e seus custos sociais para a economia brasileira. Neste sentido, o primeiro ensaio utiliza de uma equação de transferência para a especificação da curva de Phillips, a partir do método das variáveis instrumentais, para alcançar a taxa de desemprego não aceleradora da inflação (NAIRU). Este método, para dados trimestrais de 2000 a 2013, possibilitou identificar uma mudança no coeficiente de correlação entre a taxa de desemprego e a taxa de inflação, que passou de um trade-off (negativo) para uma relação positiva, além da permanência da taxa NAIRU acima da taxa de desemprego no período em questão. Preocupando-se com este resultado expressivo, o segundo ensaio se comprometeu em analisar se esse adveio de possíveis não linearidades presentes na curva, preocupação que já havia sido retratada pelo trabalho seminal de Phillips (1958), indicando que a relação da taxa de variação dos salários nominais e a taxa de desemprego seria altamente não linear. Nesse contexto, utilizando o modelo de vetores autorregressivos que considera a não-linearidade dos parâmetros (quebras estruturais), variáveis exógenas de controle (para contornar o problema de omissão de variáveis) para o período de 1995 a 2014, estimou-se a Curva de Phillips Novo-Keynesiana Hibrida (CPNKH) para identificar possíveis quebras estruturais para dados da economia brasileira. O modelo estimado foi caracterizado por um MSIH(2)VAR(1) e foi possível confirmar a não linearidade a partir do teste da razão de verossimilhança, com a identificação de dois períodos bem distintos ao longo da amostra. Além disso, foi verificada uma representatividade maior para o termo inercial (Backward Looking) indicando que as expectativas de inflação contribuem menos para a explicação do processo inflacionário recente da economia brasileira. Uma vez que um dos principais objetivos do Regime de Metas de Inflação (RMI) é ancorar a formação de preços a partir das expectativas futuras dos agentes econômicos, além disso, dada a não linearidade encontrada para dados da economia brasileira no segundo ensaio, e dada as diferentes significâncias, importâncias e patamares para os componentes da curva que representam as expectativas (futuras e passadas), o terceiro ensaio se comprometeu em, ao invés de confiar exclusivamente em uma única medida de tendência central, analisar os quantis de toda a distribuição condicional da variável resposta (taxa de inflação). Utilizando do método da regressão quantílica inversa, que utiliza os blocos em movimento bootstrap de Fitzenberger (1997), descrito por Chernozhukov e Hansen (2005), para o período de maio de 2001 a agosto de 2016, foi possível identificar a importância adquirida pelas expectativas futuras ao longo dos períodos analisados. Quando se faz estimações considerando somente a média condicional, o termo inercial é maior e significativo para praticamente todas as especificações e modelos apresentados. Utilizando do modelo da regressão quantílica inversa, por outro lado, é possível verificar que o termo Forward Looking ganha força e domina o Backward Looking nos três períodos analisados, em diferentes níveis de inflação, demonstrando, assim, o comportamento assimétrico (não linear) do processo inflacionário. Desta forma, foi possível mostrar o amadurecimento do objetivo do RMI e averiguar que os componentes expectacionais da CPNKH, para dados da economia brasileira, foram capazes de manter sua importância e significância em toda distribuição condicional no processo de determinação de preços recente.The present dissertation, based on three essays, makes use of different specifications for the Phillips curve, to discuss different objectives based on relevant issues such as the process of price determination and its social costs for the Brazilian economy. In this sense, the first assay uses a transfer equation for the specification of the Phillips curve, using the instrumental variables method, to reach the non-accelerating inflation rate of unemployment (NAIRU). This method, for quarterly data from 2000 to 2013, enable the identification of a change in the coefficient of correlation between the unemployment rate and the inflation rate, which transitioned from a trade-off to a positive relation, in addition to the permanence of the NAIRU above the unemployment rate in the period in question. Concerning with this expressive result, the second essay undertook to analyze whether this resulted from possible non-linearities present in the curve, a concern that had already been portrayed by the seminal work of Phillips (1958), indicating that the relation of the rate of change of wages and the unemployment rate would be highly non-linear. In this context, using the autoregressive vector model that considers the non-linearity of the parameters (structural breaks), exogenous variables of control (to circumvent the problem of omission of variables) for the period from 1995 to 2014, it was estimated the Phillips New-Keynesian Hybrid (CPNKH) to identify possible structural breaks for Brazilian economy data. The estimated model was characterized by a MSIH (2) VAR (1) and it was possible to confirm the nonlinearity from the likelihood ratio test, with the identification of two distinct periods throughout the sample. In addition, it was verified a greater representativeness for the inertial term (Backward Looking), indicating that the expectations of inflation contributed less to the explanation of the recent inflationary process of the Brazilian economy. Since one of the main objectives of the Inflation Targeting Regime (ITR) is to anchor the formation of prices based on the future expectations of the economic agents, in addition, given the non-linearity found for the data of the Brazilian economy in the second essay, and considering the different significance, importance and thresholds for the components of the curve that represent (future and past) expectations, the third assay committed to, instead of relying solely on a single measure of central tendency, analyze the quantiles of the entire conditional distribution of the response variable (inflation rate). Using the reverse quantum regression method, which uses the Fitzenberger (1997) bootstrap blocks, described by Chernozhukov and Hansen (2005), for the period from May 2001 to August 2016, it was possible to identify the importance acquired by the expectations over the periods analyzed. When estimating only the conditional average, the inertial term is larger and significant for practically all the specifications and models presented. On the other hand, it is possible to verify the Forward Looking term gaining importance and dominating the Backward Looking in the three analyzed periods, at different levels of inflation, thus, demonstrating the asymmetric (non-linear) behavior of the inflationary process. In this way, it was possible to show the maturity of the objective of the ITR as to verify that the expected components of the CPNKH for the Brazilian economy data were able to maintain its importance and significance in all conditional distribution in the recent pricing process.
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Olutuase, Samuel Oladipo. "Modelling the effect of entrepreneurship education on entrepreneurial mindset, skill and intentions: Empiraical evidence from undergraduates in Nigeria." University of the Western Cape, 2017. http://hdl.handle.net/11394/6280.
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Philosophiae Doctor - PhD (School of Business and Finance)Entrepreneurial firms, entrepreneurial capital, entrepreneurial ecosystem and entrepreneurial economy are a few terminologies that have emerged since the resurgence of entrepreneurship, arising from the 1990's entrepreneurial revolution in the United States of America. Entrepreneurship education, a paradigm shift from the conventional, has been identifies as being critical to fostering entrepreneurship, building entrepreneurial capital, growing entrepreneurial economy and ultimately delivering sustainable economic growth and developmend for any nation - emerging or developed. From America to Africa, entrepreneurship modules with varies objectives and designs have multiplied in the last decade.
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Bolukbasi, Firuze. "The Effects Of The Inflation Targeting Regime On The Istanbul Stock Exchange." Thesis, METU, 2009. http://etd.lib.metu.edu.tr/upload/12610464/index.pdf.
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The primary purpose of this study is to test the effects of inflation targeting in Turkey in terms of providing stability in the financial system by lowering the volatility in the Turkish stock market. Although there are many factors other than monetary policy which can affect stock market volatility, this study examines whether the volatility due to monetary policy can be reduced by increasing the accuracy of investors&rsquoexpectations about the central bank&rsquo
s future actions. In the first part, a &ldquo
Volatility Analysis&rdquo
is conducted for three sub-periods including the pre- and post-periods of the implementation of inflation targeting in order to see whether the volatility in the Istanbul Stock Exchange changed over time. Second, an &ldquo
Announcement Effect Analysis&rdquo
is carried out by using the central bank&rsquo
s interest rate and inflation rate announcement dates in order to evaluate how investors&rsquo
expectations react to a change in these rates during period from 2002 to 2007. Finally, a &ldquo
Combined Analysis&rdquo
is done in order to examine the relationship between the returns in the Turkish stock market and the surprise caused by the realized interest and inflation rates being different from their expected values. The empirical findings about the level of volatility indicate that there is a decline in volatility of the Istanbul Stock Exchange returns when volatility is compared on a pre- and post-policy period basis. Also, it is found that the announcement effect was present, meaning interest rate announcements generally came as a surprise to stock market participants. However, this announcement effect has a notably decreasing trend from 2002 to 2007 which is another evidence of the inflation targeting regime&rsquo
s success at reducing stock market volatility. Finally, the &ldquo
combined analysis&rdquo
shows that CBT&rsquo
s power to effect stock returns and to direct investors&rsquo
expectations increases from 2002 to 2007.
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O'LEARY, CHRISTOPHER JOSEPH. "AN ECONOMETRIC ANALYSIS OF UNEMPLOYMENT INSURANCE BENEFIT ADEQUACY (RATIONING CONSTRAINTS, TOBIT MODELS)." Diss., The University of Arizona, 1986. http://hdl.handle.net/10150/183901.
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Explicit parameterizations of labor supply are specified and estimated on a sample of single unattached individuals using data from the Panel Study of Income Dynamics and a generalized Tobit maximum likelihood method which is consistent under the assumption that employed hours are exogenous. Results of these estimations are then used to compute triangle approximation and direct closed form solutions for labor market constraint compensation. Underemployment compensation estimates are generated and compared to actual and hypothetical payments which would accrue under the UI systems of representative states. Certain compensation results for overemployment are also offered. Where they are directly comparable, results from Tobit estimation of the basic labor supply relations are found to strictly dominate ordinary least squares (OLS) results in terms of efficiency. While the OLS and Tobit parameter estimates differ dramatically in most cases, the latter are consistent with the bulk of recent empirical labor supply research. A corollary purpose of estimating the several labor supply specifications is the search for an appropriate structure of preferences to be used in modeling the labor-leisure choice problem. Direct likelihood ratio tests yielded no best form, but suggested that more flexible parameterizations are to be desired. Results on compensation amounts tend to support accepted standards of UI benefit adequacy. For all levels of unemployment the direct compensation results suggested that "one-half gross wage replacement" would slightly overcompensate individuals from a utility based perspective.