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The insider-outsider theory is a theory of labor economics that explains how firm behavior, national welfare, and wage negotiations are affected by a group in a more privileged position. [ 1] The theory was developed by Assar Lindbeck and Dennis Snower in a series of publications beginning in 1984. [ 1][ 2][ 3] Wages set by insiders [ 4] The ...
Beveridge curve. A Beveridge curve, or UV curve, is a graphical representation of the relationship between unemployment and the job vacancy rate, the number of unfilled jobs expressed as a proportion of the labour force. It typically has vacancies on the vertical axis and unemployment on the horizontal. The curve, named after William Beveridge ...
The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...
Structural unemployment. Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap ). Structural unemployment is often brought about by technological changes that make the job skills of ...
Some economists define full employment somewhat differently, as the unemployment rate at which inflation does not continuously increase. Advocacy of avoiding accelerating inflation is based on a theory centered on the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU) and those who hold it usually mean NAIRU when speaking of ...
August 11, 2024 at 3:07 PM. ZURICH (Reuters) - Youth unemployment worldwide last year dipped to a 15-year-low and is likely to continue falling through 2025, although weaker growth means Asia has ...
Youth unemployment. Young people protesting about youth unemployment in Hamburg. Youth unemployment is a special case of unemployment; youth, here, meaning those between the ages of 15 and 24. [ 1] Young people have difficulties finding work, consistently different from those of the general workforce. They also are affected in distinct ways.
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) [ 2] not being in paid employment or self-employment but currently available for work during the reference period. [ 3] Unemployment is measured by the unemployment rate, which is the number of people who ...