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51. Unemployment and Business Cycles

Author:
Lawrence J. Christiano, Martin Eichenbaum, and Mathias Trabandt
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We develop and estimate a general equilibrium model that accounts for key business cycle properties of macroeconomic aggregates, including labor market variables. In sharp contrast to leading New Keynesian models, wages are not subject to exogenous nominal rigidities. Instead we derive wage inertia from our specification of how firms and workers interact when negotiating wages. Our model outperforms the standard Diamond-Mortensen-Pissarides model both statistically and in terms of the plausibility of the estimated structural parameter values. Our model also outperforms an estimated sticky wage model.
Topic:
Labor Issues, Employment, Business, Economic Theory, Unemployment, and Job Creation
Political Geography:
Global Focus

52. Generation "U".: The Plight oof 75 Million Unemployed Youth

Author:
Arun S. Nair
Publication Date:
09-2012
Content Type:
Working Paper
Abstract:
Consider this—globally, 75 million youth between 15 and 24 years of age are unemployed, according to a May 2012 report of the International Labor Organization (ILO). If all these youth were residents of a single nation, that would make it the 18th most populous in the world. The 75 million youth (an increase of around 4 million since 2007) comprise about 40 percent of the estimated 207 million unemployed people across the world. Many of those who have managed to secure some employment are not any better off. As many as 228 million youth who have 'jobs' live on less than $2 a day, a reflection of their poverty and under-employment. The ILO forecasts a bleak future too. The international body on labor projects that the global youth unemployment rate—seen at 12.7 percent this year (or higher at 13.6 percent if one includes those who have given up or put off their job search due to the poor prospects)—will remain at such high levels in the near future, that is at least till 2016. Such is the seriousness of the problem that some experts have already started describing today's youth as Generation 'U' (for Unemployed) or Generation 'NEET' (an acronym for Not in Education, Employment or Training), a far cry from the more popularly used term—'Generation Z' or 'iGeneration' (symbolizing their skills in being technologically advanced and connected).
Topic:
Debt, Youth, Unemployment, and Job Creation
Political Geography:
North America and United States of America

53. The Impact of Information Technology Outsourcing on Productivity and Output: New Evidence from India

Author:
Grace Kite
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
Neither the literature on outsourcing nor the literature on the impact of information technology (IT) have previously quantified the effects of IT outsourcing. This is a particularly important omission in India, which has an IT outsourcing industry that is well placed to bring world-class applications of the technology to domestic customers. This paper provides econometric evidence which shows that there is a strong positive impact of IT outsourcing on output and productivity in India. It also demonstrates that in aggregate, IT outsourcing makes a substantial contribution to Indian economic growth.
Topic:
Science and Technology, Job Creation, Information Technology, and Outsourcing
Political Geography:
India and Asia

54. Urban Livelihoods in Afghanistan

Author:
Jo Ball and Stefan Schutte
Publication Date:
08-2006
Content Type:
Working Paper
Institution:
Afghanistan Research and Evaluation Unit (AREU)
Abstract:
This synthesis report draws out the main findings and recommendations from five case studies on urban poverty in Kabul, Herat, Mazar-i-Sharif, Jalalabad and Pul-i-Khumri. The report examines livelihood strategies, assets and crisis management over time in a set of households in each of these cities. It calls on the Afghan government to implement long-term strategies for economic growth that would create more jobs with regular income, and draws attention to the uneven thrust of national assistance—focused more on poverty-reduction initiatives in the rural communities—and the need to expand programmes to urban areas.
Topic:
Poverty, Urbanization, Urban, Rural, and Job Creation
Political Geography:
Afghanistan and Middle East