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Full-Text Articles in Macroeconomics
Jobs Don’T Grow On Trees, Nicholas Johnson
Jobs Don’T Grow On Trees, Nicholas Johnson
Undergraduate Research Symposium 2013
Most contemporary macroeconomic models account for unemployment by making the simplifying assumptions that 1) there is an equilibrium level of unemployment and that 2) when the economy is not at that level it will tend towards equilibrium. Implicit in these models is also the assumption that the actual behavior of unemployment does not affect the equilibrium level. This paper joins a growing number of economists pointing out that such assumptions are false: the equilibrium does depend on past behavior, a trait called hysteresis. This paper considers the hysteresis hypothesis by using an iterated version of OLS to construct a series …
Adjustment In Africa: Lessons From Country Case Studies, Ishrat Husain, Rashid Faruqee
Adjustment In Africa: Lessons From Country Case Studies, Ishrat Husain, Rashid Faruqee
Faculty Research - Books
This report provides an assessment of structural adjustment policies undertaken by seven African countries in the mid-1980s. This report is distinct from other studies on this subject. First, it emphasizes the specific economic and social circumstances of each country that led to the adoption of an adjustment program. Second, it measures and analyzes the extent to which the adjustment policies were, in fact, implemented in each case. Finally, the report attempts to assess economic performance in relation to the strength of the implementation of policy reforms.