Results 1 - 10 of 11,648

The Effect of Government Size on the Steady-State Unemployment Rate: A Dynamic Perspective

by Siyan Wang, Burton A. Abrams, Siyan Wang, Burton A. Abrams , 2011
"... The views expressed in the Working Paper Series are those of the author(s)  and do not ..."
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The views expressed in the Working Paper Series are those of the author(s)  and do not

A Structural Error Correction Model

by Burton A. Abrams, Siyan Wang, Burton A. Abrams , 2006
"... The Effect of Government Size on the Steady-State Unemployment Rate: ..."
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The Effect of Government Size on the Steady-State Unemployment Rate:

And

by Siyan Wang, Burton A. Abrams, Burton A. Abrams , 2007
"... The relationship between government size and the unemployment rate is investigated using an error-correction model that describes both the short-run dynamics and long-run determination of the unemployment rate. Using data from twenty OECD countries from 1970 to 1999 and after correcting for simultan ..."
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for simultaneity bias, we find that government size, measured as total government outlays as a percentage of GDP, plays a significant role in affecting the steady-state unemployment rate. Importantly, when government outlays are disaggregated, transfers and subsidies are found to significantly affect the steady-state

And

by Siyan Wang, Burton A. Abrams , 2007
"... The relationship between government size and the unemployment rate is investigated using an error-correction model that describes both the short-run dynamics and long-run determination of the unemployment rate. Using data from twenty OECD countries from 1970 to 1999 and after correcting for simultan ..."
Abstract - Add to MetaCart
for simultaneity bias, we find that government size, measured as total government outlays as a percentage of GDP, plays a significant role in affecting the steady-state unemployment rate. Importantly, when government outlays are disaggregated, transfers and subsidies are found to significantly affect the steady-state

The Cyclical Behavior of Equilibrium Unemployment and Vacancies

by Robert Shimer - American Economic Review , 2005
"... This paper argues that a broad class of search models cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment ratio is 20 times as volatile as average labor productivity ..."
Abstract - Cited by 871 (23 self) - Add to MetaCart
of the model. I show that a shock that changes average labor productivity primarily alters the present value of wages, generating only a small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate generates a counterfactually positive correlation

Unemployment insurance with moral hazard in a dynamic economy

by Cheng Wang, Stephen Williamson - Carnegie-Rochester Series on Public Policy 44 , 1996
"... We study a dynamic model with positive gross flows between employment and unemployment. There is moral hazard associated with search effort and job-retention effort. A quantitative comparison of the unemployment insurance system currently in place in the United States with an optimal system shows th ..."
Abstract - Cited by 72 (1 self) - Add to MetaCart
that the optimal system reduces the steady state unemployment rate by 3.40 percentage points and increases output by 3.64%. The optimal system involves a large subsidy for a transition from unemployment to employment and a large penalty for a transition from employment to unemployment. Research assistance

Employment Fluctuations with Equilibrium Wage Stickiness,” American Economic Review,

by Robert E Hall , George Akerlof , Anthony Fai Chung , Kenneth Judd , Narayana Kocherlakota , John Muellbauer , Garey Ramey , Felix Reichling , Robert Shimer , Robert Solow , 2005
"... Modern economies experience substantial fluctuations in aggregate output and employment. In recessions, employment falls and unemployment rises. In the years immediately after a recession, the labor market is slackunemployment remains high and the vacancy rate and other measures of employer recruit ..."
Abstract - Cited by 542 (6 self) - Add to MetaCart
Modern economies experience substantial fluctuations in aggregate output and employment. In recessions, employment falls and unemployment rises. In the years immediately after a recession, the labor market is slackunemployment remains high and the vacancy rate and other measures of employer

Modeling TCP Throughput: A Simple Model and its Empirical Validation

by Jitendra Padhye, Victor Firoiu, Don Towsley, Jim Kurose , 1998
"... In this paper we develop a simple analytic characterization of the steady state throughput, as a function of loss rate and round trip time for a bulk transfer TCP flow, i.e., a flow with an unlimited amount of data to send. Unlike the models in [6, 7, 10], our model captures not only the behavior of ..."
Abstract - Cited by 1337 (36 self) - Add to MetaCart
In this paper we develop a simple analytic characterization of the steady state throughput, as a function of loss rate and round trip time for a bulk transfer TCP flow, i.e., a flow with an unlimited amount of data to send. Unlike the models in [6, 7, 10], our model captures not only the behavior

Loopy belief propagation for approximate inference: An empirical study. In:

by Kevin P Murphy , Yair Weiss , Michael I Jordan - Proceedings of Uncertainty in AI, , 1999
"... Abstract Recently, researchers have demonstrated that "loopy belief propagation" -the use of Pearl's polytree algorithm in a Bayesian network with loops -can perform well in the context of error-correcting codes. The most dramatic instance of this is the near Shannon-limit performanc ..."
Abstract - Cited by 676 (15 self) - Add to MetaCart
steady states it seems reasonable to try to find a way to com bine the two values. The simplest thing to do is to average them. Unfortunately, this gave very poor re sults, since the correct posteriors do not usually lie in the midpoint of the interval ( cf. 2More precisely, we found that with a

North-Holland Unemployment insurance with moral hazard in a dynamic economy*

by Cheng Wangt, Stephen Williamson
"... We study a dynamic model with positive gross flows between employment and unemployment. There is moral hazard associated with search effort and job-retention effort. A quantitative comparison of the unemployment insurance system currently in place in the United States with an optimal system shows th ..."
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that the. optimal system reduces the steady state unemployment rate by 3.40 percentage points and increases output by 3.64%. The optimal system involves a large subsidy for a transition from unemployment to employment and a large penalty for a transition from employment to unemployment. 1
Results 1 - 10 of 11,648