Full Employment: A Survey of Theory, Empirics and Policies
By: Arsenev, Aleksandr.
Contributor(s): Gökten, Meryem | Heimberger, Philipp | Lichtenberger, Andreas.
Material type:
BookSeries: wiiw Working Papers: 249Publisher: Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2024Description: 71 S., 2 Tables and 7 Figures, 30cm.Subject(s): full employment | NAIRU | Beveridge curve | employment | welfare states | job guaranteeCountries covered: European Union | OECDwiiw Research Areas: Macroeconomic Analysis and Policy | Labour, Migration and Income DistributionClassification: B22 | E24 | E61 Online resources: Click here to access online Summary: The concept of full employment is associated with diverse economic, political and social aspects. We provide a survey of theory, empirics and policy issues related to full employment. We make a novel contribution by tying together multi-dimensional aspects of full employment regarding definitions, theoretical perspectives, empirical measurements, policy debates and real-world policy programs. We distinguish: concepts of full employment that provide systematic links to price stability; minimum unemployment and maximum employment approaches; and the unfilled vacancies perspective. Furthermore, we provide and discuss different empirical measures of full employment for selected economies, and we propose a new full employment typology. Based on our survey findings, we argue that conceptualising and measuring full employment is not merely a technical task, but inevitably involves normative judgments. Finally, we discuss avenues for future research.
| Item type | Current library | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|
| Paper | WIIW Library | 5.700/249 (Browse shelf(Opens below)) | Available | 1000010006913 |
The concept of full employment is associated with diverse economic, political and social aspects. We provide a survey of theory, empirics and policy issues related to full employment. We make a novel contribution by tying together multi-dimensional aspects of full employment regarding definitions, theoretical perspectives, empirical measurements, policy debates and real-world policy programs. We distinguish: concepts of full employment that provide systematic links to price stability; minimum unemployment and maximum employment approaches; and the unfilled vacancies perspective. Furthermore, we provide and discuss different empirical measures of full employment for selected economies, and we propose a new full employment typology. Based on our survey findings, we argue that conceptualising and measuring full employment is not merely a technical task, but inevitably involves normative judgments. Finally, we discuss avenues for future research.