More alike than different: : the Spanish and Irish labour markets before and after the crisis

This paper analyses the labour markets of Spain and Ireland, which have experienced a severe downturn in the recent global crisis as reflected by the largest increases in their unemployment rates among other developed economies. Spain and Ireland might seem at first to feature very different labour markets, which go from very tight to very flexible labour conditions. Our analysis, however, goes beyond this simplistic argument and brings to light the strong commonalities that seem to have been hidden underground. We estimate a dynamic multi-equation structural model for each country, and then offer two sets of dynamic simulations which account for the swings of the unemployment rates before and after the 2007 crisis. Our results suggest looking beyond the degree of flexibility of both labour markets, just to focus instead on other variables usually neglected by more conventional approaches. In particular, such variables as the growth of capital stock, the growth of labour productivity, and demographics, succeed in explaining a great part of the changes in unemployment in both countries.Este documento analiza los mercados laborales de España e Irlanda, que experimentaron una severa desaceleración en la reciente crisis mundial, como lo reflejan los mayores incrementos en sus tasas de desempleo entre otras economías desarrolladas. Al principio, España e Irlanda parecen tener mercados laborales muy diferentes, que van desde condiciones de trabajo muy ajustadas hasta condiciones laborales muy flexibles. Este análisis, sin embargo, va más allá de este argumento simplista y saca a la luz las fuertes similitudes que parecen haberse ocultado bajo tierra. Se estima un modelo estructural dinámico de multi-ecuaciones para cada país, y luego se ofrecen dos conjuntos de simulaciones dinámicas que dan cuenta de las oscilaciones de las tasas de desempleo antes y después de la crisis de 2007. Estos resultados sugieren mirar más allá del grado de flexibilidad de ambos mercados laborales, solo para centrarse en otras variables generalmente descuidadas por los enfoques más convencionales. En particular, variables tales como el crecimiento del stock de capital, el crecimiento de la productividad laboral y la demografía, logran explicar una gran parte de los cambios en el desempleo en ambos países.Fil: Agnese Pablo .Fil: Salvador Pablo F.. CONICET (Consejo Nacional de Investigaciones Científicas y Técnicas) - Universidad Nacional de Cuyo

The entangled accelerating universe

Using the known result that the nucleation of baby universes in correlated pairs is equivalent to spacetime squeezing, we show in this letter that there exists a T-duality symmetry between two-dimensional warp drives, which are physically expressible as localized de Sitter little universes, and two dimensional Tolman-Hawking and Gidding-Strominger baby universes respectively correlated in pairs, so that the creation of warp drives is also equivalent to spacetime squeezing. Perhaps more importantly, it has been also seen that the nucleation of warp drives entails a violation of the Bell's inequalities, and hence the phenomena of quantum entanglement, complementarity and wave function collapse. These results are generalized to the case of any dynamically accelerating universe filled with dark or phantom energy whose creation is also physically equivalent to spacetime squeezing and to the violation of the Bell's inequalities, so that the universe we are living in should be governed by essential sharp quantum theory laws and must be a quantum entangled system

More Alike than Different: The Spanish and Irish Labour Markets Before and After the Crisis

This paper analyses the labour markets of Spain and Ireland, which have experienced a severe downturn in the recent global crisis as reflected by the largest increases in their unemployment rates among other developed economies. Spain and Ireland might seem at first to feature very different labour markets, which go from very tight to very flexible labour conditions. Our analysis, however, goes beyond this simplistic argument and brings to light the strong commonalities that seem to have been hidden underground. We estimate a dynamic multi-equation structural model for each country, and then offer two sets of dynamic simulations which account for the swings of the unemployment rates before and after the 2007 crisis. Our results suggest looking beyond the degree of flexibility of both labour markets, just to focus instead on other variables usually neglected by more conventional approaches. In particular, such variables as the growth of capital stock, the growth of labour productivity, and demographics, succeed in explaining a great part of the changes in unemployment in both countries.chain reaction theory, structural multi-equation models, unemployment dynamics, simulations, PIGS

The (Ir)relevance of the NRU for Policy Making: The Case of Denmark

We reconsider the central role of the natural rate of unemployment (NRU) in forming policy decisions. We show that the unemployment rate does not gravitate towards the NRU due to frictional growth, a phenomenon that encapsulates the interplay between lagged adjustment processes and growth in dynamic labour market systems. We choose Denmark as the focal point of our empirical analysis and find that the NRU explains only 33% of the unemployment variation, while frictional growth accounts for the remaining 67%. Therefore, our theoretical and empirical findings raise serious doubts as to whether the NRU should play a key instrumental role in policy making.Unemployment, Natural rate of unemployment, Labour market dynamics, Frictional growth, Chain reaction theory

CP Violation from Flavor Symmetry in a Lepton Quarticity Dark Matter Model

We propose a simple $\Delta (27) \otimes Z_4$ model where neutrinos are predicted to be Dirac fermions. The smallness of their masses follows from a type-I seesaw mechanism and the leptonic CP violating phase correlates with the pattern of $\Delta (27)$ flavor symmetry breaking. The scheme naturally harbors a WIMP dark matter candidate associated to the Dirac nature of neutrinos, in that the same $Z_4$ lepton number symmetry also ensures dark matter stability.Comment: 16 pages, 5 figures, Dark Matter Direct Detection Constraints Updated, Conclusions Unchanged, Published Versio

Generalized Bottom-Tau unification, neutrino oscillations and dark matter: predictions from a lepton quarticity flavor approach

We propose an $A_4$ extension of the Standard Model with a Lepton Quarticity symmetry correlating dark matter stability with the Dirac nature of neutrinos. The flavor symmetry predicts (i) a generalized bottom-tau mass relation involving all families, (ii) small neutrino masses are induced a la seesaw, (iii) CP must be significantly violated in neutrino oscillations, (iv) the atmospheric angle $\theta_{23}$ lies in the second octant, and (v) only the normal neutrino mass ordering is realized.Comment: 13 pages, 3 figure

Seesaw roadmap to neutrino mass and dark matter

We describe the many pathways to generate Majorana and Dirac neutrino mass through generalized dimension-5 operators a la Weinberg. The presence of new scalars beyond the Standard Model Higgs doublet implies new possible field contractions, which are required in the case of Dirac neutrinos. We also notice that, in the Dirac neutrino case, the extra symmetries needed to ensure the Dirac nature of neutrinos can also be made responsible for stability of dark matter.Comment: 12 pages, 5 figures, published versio

Capital Accumulation and Unemployment: New Insights on the Nordic Experience

This paper takes a fresh look at the analysis of labour market dynamics and argues that capital accumulation plays a fundamental role in shaping unemployment movements. This role has generally been examined by considering indirect transmission channels of the capital stock effects, i.e. using variables like interest rates or investment ratios in the estimation of single-equation unemployment rate models. Here we advocate a different approach. We directly estimate the effects of capital stock in the labour market by applying the chain reaction theory of unemployment, and we find that capital stock is a major determinant of unemployment in the Nordic countries. In particular, the different unemployment experiences of these economies derive from the temporary (albeit prolonged) negative shocks to capital stock growth in Denmark and Sweden, and the permanent downturn of capital stock growth in Finland. We are thus able to explain why the crisis of the early 1990s had a more accute impact in Finland than in its twin economy, Sweden.Unemployment dynamics, Chain reaction theory, Capital accumulation, Nordic countries

Dirac Neutrinos and Dark Matter Stability from Lepton Quarticity

We propose to relate dark matter stability to the possible Dirac nature of neutrinos. The idea is illustrated in a simple scheme where small Dirac neutrino masses arise from a type--I seesaw mechanism as a result of a $Z_4$ discrete lepton number symmetry. The latter implies the existence of a viable WIMP dark matter candidate, whose stability arises from the same symmetry which ensures the Diracness of neutrinos.Comment: 12 pages, 6 figures, Report N IFIC/16-4