6 research outputs found

    NAIRU, Unemployment and Post Keynesian Economics

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    The purpose of this paper is to present the disadvantages from the use of NAIRU as the key instrument of monetary-policy making to restrain the upward tendency of unemployment. It argues that the development of NAIRU, the most widely known and used model in macroeconomic analysis, although has changed the whole structure of macroeconomic theory and policy significantly, its adoption is consistent with unemployment, instead of economic activity expansion. By setting at the center of analysis the persistently high levels of unemployment and questioning the NAIRU concept itself, this paper aims at signifying the incorrectness of the assumptions upon which NAIRU rests and determines employment policies, though are regarded as a priori given.NAIRU, Unemployment, Capital, Capacity Utilization, Post Keynesian-Kaleckian economics

    Studying the NAIRU and its Implications

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    The current paper is a means of demonstrating our knowledge about macroeconomic theories, and its key variables, phenomena, and history. Given the key role that the Non-Accelerating Inflation Rate of Unemployment (NAIRU) has in the macroeconomic theory as well as its role in determining employment theories, it is raised the need for a thorough evaluation of its origins and a brief explanation of some of the claims surrounding it. In these grounds, this study aims at integrating and generalizing findings and presenting the changes within the macroeconomic field over the years by investigating theories, identifying methodological strengths and the weaknesses in the body of the macroeconomic research about the concept of NAIRU. In order to help the reader to avoid misunderstandings we define the best descriptors and identify the best sources to use in the review literature related to our topic, we rely on primary sources in reviewing the literature, we examine critically all aspects of the research design and analysis, and we consider contrary findings and alternative interpretations in synthesizing quantitative literature.NAIRU, macroeconomic policies

    Masculine vs Feminine Personality Traits and Women’s Employment Outcomes in Britain: A Field Experiment

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    In the current study, we utilized a correspondent test to capture the way in which firms respond to women who exhibit masculine and feminine personality traits. In doing so, we minimized the potential for reverse causality bias and unobserved heterogeneities to occur. Women who exhibit masculine personality traits have a 4.3 percentage points greater likelihood of gaining access to occupations than those displaying feminine personality traits. In both male- and female-dominated occupations, women with masculine personality traits have an occupational access advantage, as compared to those exhibiting feminine personality traits. Moreover, women with masculine personality traits take up positions which offer 10 percentage points higher wages, in comparison with those displaying feminine personality traits. Furthermore, wage premiums are higher for those exhibiting masculine personality traits in male-dominated occupations, than for female-dominated positions. To the best of our knowledge, this is the first field experiment to examine the effect of masculine and feminine personality traits on entry-level pay scales. As feminine personality traits are stereotypically attributed to women, and these characteristics appear to yield fewer rewards within the market, they may offer one of many plausible explanations as to why women experience higher unemployment rates, whilst also receiving lower earnings, as compared to men

    Die griechische Wirtschaftskrise, Arbeitsmärkte und Politikmaßnahmen

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    The historic decision at the Euro Summit on July 12, 2015, to continue supporting Greece as a member of the EU and the euro family, provided Greece the chance to return to growth and sustainability, provided it takes the necessary steps to continue with its reforms. Jointly the Greek government with its partners (European Commission, European Central Bank and the International Monetary Fund), agreed that the success of economic policy decisions would be determined by the concentration on social policies. Policy initiatives should view reforms not as a debate between more versus less regulation, but rather as a matter of good versus bad regulation. Encouraging productive investment represents one of the main engines to sustain not just recovery but also promote productive transformations. Moreover one of the most pressing priorities for the Greek government should be to provide immediate support to vulnerable groups, to help alleviate the impact of the economic crisis, and set the stage for stable future economic growth

    A Field Study of Age Discrimination in the Workplace: The Importance of Gender and Race. Pay the Gap

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    Purpose: The study examines whether age intersects with gender and race during the initial stage of the hiring process and affects access to vacancies outcomes and wage sorting. Methodology: In order to answer the research question the study collects data from four simultaneous field experiments in England. The study compares the labour market outcomes of younger White British men with those of older White British men and women, and with those of older Black British men and women. The study concentrates on low-skilled vacancies in hospitality and sales in the private sector. Findings: The results of this study indicate that older White British men and women, as well as older Black British men and women, experience occupational access constraints and are sorted into lower-paid jobs than younger White British men. The level of age discrimination is found to be higher for Black British men and women. In addition, Black British women experience the highest level of age discrimination. These patterns may well be in-line with prejudices against racial minority groups and stereotypical sexist beliefs that the physical strengths and job performance of women decline earlier than they do for men. Originality/value: This research presents for the first-time comparisons of access to vacancies and wage sorting between younger male racial majorities and older male racial majorities, older female racial majorities, older male racial minorities, and older female racial minorities. In addition, the driven mechanism of the assigned differences is explored. Because the study has attempted to minimise the negative employer stereotypes vis-Ă -vis older employees, with respect to their motivation, productivity, and health, such prejudices against older individuals may be considered Taste-based discrimination. Implications: If prejudices against older individuals are present, then anti-discrimination legislation may be the appropriate response, especially for racial minorities and women. Eliminating age discrimination in selection requires firms to adopt inclusive HR policies at the earliest stages of the recruitment process

    Workplace Positive Actions, Trans People’s Self-Esteem and Human Resources’ Evaluations

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    This study provides empirical patterns regarding trans people's self-esteem-oriented reflections during observations of positive workplace actions. The case of a 2015 UK workplace guide is utilized to fulfil our aims. We adopt Rawls' political philosophy framework in order to evaluate whether trans people's self-esteem-oriented concepts might be enhanced by policy makers' positive actions. The study does find that trans people's self-esteem and self-respect are enhanced by policy makers' positive actions to promote inclusivity in the workplace. Due to these actions trans people feel more accepted, valued and trusted by the government. We suggest that if a workplace policy is perceived to be recognizing trans people's worth this may be internalized, resulting in positive self-evaluations by trans people. In addition, we present empirical patterns from HR departments which have been aware of the workplace guide. HR officers suggest that the workplace guide informs their strategies, and positively affects the creation of a more inclusive workplace culture, the corporate profiles of their firms and staff organizational behaviours (such as, achieving results, fostering collegiality, reducing complaints) and addresses LGBT business and trans staff-members' needs. We suggest that if employers adopt policy makers' positive workplace policies aiming to increase inclusivity, they may be able to realize positive organizational outcomes in their firms