Source: OECD StatExtract.
I have no information as to why there is a sudden surge in the Canadian unemployment duration rate in 2001.
Average duration of unemployment, USA, Canada and Australia, 1968 – 2014
08 Aug 2015 Leave a comment
in business cycles, economic history, global financial crisis (GFC), great recession, job search and matching, labour economics, labour supply, macroeconomics, unemployment Tags: Australia, Canada, unemployment rates
Australian unemployment incidence by duration since 1978
07 Aug 2015 Leave a comment
in economic history, global financial crisis (GFC), job search and matching, labour economics, labour supply, macroeconomics, politics - New Zealand, unemployment Tags: Australia, equilibrium unemployment rate, natural unemployment rate, unemployment duration
As with New Zealand, Australian long-term unemployment seems to go up and down quite a lot with recessions such as those in the early 1980s and early 1990s but not after the global financial crisis.
Source: OECD StatExtract.
Did fiscal austerity in 2010 have credible academic support?
05 Aug 2015 1 Comment
#Greece austerity gauge. Greek government spending has fallen 20% since 2008. In UK and Italy it's up. #GreekCrisis http://t.co/WMQBxxVFqq—
RBS Economics (@RBS_Economics) July 07, 2015
One measure of the scale of austerity in Greece…and other advanced economies. http://t.co/PxCLagdd3L—
RBS Economics (@RBS_Economics) July 06, 2015
The employment level in #Greece is back to where it was in 1985. It's the equivalent of the UK losing 6 million jobs. http://t.co/AAWHMEFwfK—
RBS Economics (@RBS_Economics) July 06, 2015
Did the GFC catch modern macroeconomists by surprise?
03 Aug 2015 Leave a comment
in budget deficits, business cycles, currency unions, economic growth, Euro crisis, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, law and economics, macroeconomics, monetary economics Tags: bank panics, bank runs, banking crises, currency crises, Thomas Sargent
@sjwrenlewis The stimulus package ignored what we have learned in the last 60 years of macroeconomic research
02 Aug 2015 Leave a comment
in budget deficits, business cycles, economic growth, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, monetarism, monetary economics Tags: Brad Delong, fiscal multiplier, fiscal stimulus, Larry Summers, New Keynesian macroeconomics, Thomas Sargent
Italy compared to Greece – bust without the boom
31 Jul 2015 1 Comment
in business cycles, currency unions, economic growth, economic history, Euro crisis, global financial crisis (GFC), macroeconomics Tags: Eurosclerosis, Greece, Italy, sovereign defaults
Is the socialist solution to the Greek economic crisis working?
25 Jul 2015 Leave a comment
in budget deficits, business cycles, currency unions, economic growth, Euro crisis, fiscal policy, global financial crisis (GFC), international economics, law and economics, macroeconomics, monetary economics, property rights Tags: capital controls, capital flight, Greece, labour exodus, sovereign defaults
For down and out Greeks, the U.K. is the promised land with jobs aplenty bloom.bg/1Lwcc55 http://t.co/XHHXxdTUiN—
Bloomberg Business (@business) July 24, 2015
Finland is the poster child for why the euro doesn’t work
24 Jul 2015 Leave a comment
in business cycles, currency unions, economic growth, Euro crisis, global financial crisis (GFC), macroeconomics Tags: Euro land, Finland, recessions and recoveries, Sweden
Unemployment rates by education in the USA
21 Jul 2015 Leave a comment
in business cycles, economics of education, global financial crisis (GFC), great recession, human capital, job search and matching, labour economics, labour supply, macroeconomics, unemployment Tags: education premium, labour market demographics
June jobless rate for people 25+ with
B.A. or more 2.5%
High school diploma 5.4%
No H.S. 8.2%
on.wsj.com/1LG1B6z http://t.co/luUUuw9h1V—
Sudeep Reddy (@Reddy) July 02, 2015
Trends in labour market freedom in the UK, USA, Germany and France – Index of Economic Freedom rankings
21 Jul 2015 Leave a comment
in economic history, economics of regulation, global financial crisis (GFC), job search and matching, labour economics, labour supply, law and economics, minimum wage, politics - USA, unions Tags: British economy, employment law, employment regulation, Eurosclerosis, France, Germany, Index of Economic Freedom
The writers of the Index of Economic Freedom at the Heritage foundation really loves the USA and didn’t think much of the Conservative Party – Liberal Democratic Party coalition government because labour market freedom actually fell in the UK during their administration. Bring back Tony Blair, all is forgiven. The information on their website throws no insight into why this reduction in labour market freedom in Britain happened.
Figure 1: Index of Economic Freedom, Argentina, Brazil, Chile and Venezuela, 95 – 2015 
Source: Index of Economic Freedom 2015.
Fortunately for Germany, labour market freedom increased over the course of the global financial crisis and its aftermath. This helps explains low unemployment in Germany during that period. Nothing much happened in France in regard to labour market freedom.
Greece debt crisis in 90 seconds
18 Jul 2015 Leave a comment
in economic growth, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, international economics, law and economics Tags: Greece, sovereign defaults
A lot of countries borrowed a lot of money recently
18 Jul 2015 Leave a comment
in budget deficits, fiscal policy, global financial crisis (GFC), great recession, macroeconomics Tags: Greece, Italy, Japan, sovereign debt, sovereign default, Spain
Greece is unlikely to be the last sovereign debt restructuring of this cycle wsj.com/articles/greec… via @greg_ip http://t.co/YnvOuDurDL—
Nick Timiraos (@NickTimiraos) July 16, 2015
John Cochrane on a big hole in the Greek bailout (and media analysis of the bailout)
15 Jul 2015 Leave a comment
in currency unions, Euro crisis, global financial crisis (GFC), great recession, macroeconomics, monetary economics Tags: bank runs, banking panics, Greece, John Cochrane, lender of last resort, sovereign bailouts, sovereign default
An average of 41% of Greek bank assets are non-performing, with loan repayments 90 days overdue or more (Barclays). http://t.co/HfXV8uapkj—
Mike Bird (@Birdyword) July 13, 2015
There were large cross-country differences in long-term unemployment duration both before and after the GFC
15 Jul 2015 Leave a comment
in Euro crisis, global financial crisis (GFC), great recession, job search and matching, labour economics, labour supply, macroeconomics, unemployment, welfare reform Tags: equilibrium unemployment rate, Eurosclerosis, natural unemployment rate, unemployment duration
77% more long-term unemployed people than before the crisis – We need them back in work! bit.ly/1JTTzYm #Jobs http://t.co/EFRGclFVms—
OECD Social (@OECD_Social) July 10, 2015
Hysteresis in practice, Delong-Summers Variety @delong @LHSummers http://t.co/urqxQBi6NE—
Roger E. A. Farmer (@farmerrf) July 23, 2015
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