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UID:191-39@berlinschoolofeconomics.de
CLASS: PUBLIC
SUMMARY:Research Seminar in Economics: Nadine Yamout (American University of Beirut)
DESCRIPTION:Topic: Dutch Disease, Unemployment and Structural Change\n\nSp
 eaker: Nadine Yamout (American University of Beirut)\n\nTime & venue: Fri
 days, 10:00 - 12:00 (starting on 27.10.2023); see schedule for seminar 
 venues \n\nDescription: The Research Seminar in Economics offers a platfo
 rm for invited speakers to present their current research, thereby promoti
 ng the exchange between speakers and faculty members. It covers empirical 
 as well as theoretical contributions across all fields of economics.\n\nMo
 re information can be found on the seminar's website.\n\nAbstract: We bu
 ild a multi-sector, open economy model that captures the effects of a comm
 odity boom on unemployment when there is also ongoing structural change. W
 e use Bayesian methods to jointly estimate transition path effects of stru
 ctural change and business cycle dynamics. Applying our model to the Austr
 alian economy, the estimates suggest that the large, permanent increase in
  commodity prices of the 2000s is critical for the observed appreciation o
 f the real exchange rate and the contraction of net exports. Consistent wi
 th Dutch disease, the commodity boom increases unemployment in the short r
 un. But structural change in the form of shifting preferences over non-tra
 dable consumption and non-tradable employment, a process somewhat akin to 
 structural transformation, explains the long-run reduction in unemployment
 , the increasing importance of the non-tradable sector for aggregate fluct
 uations and the increasing responsiveness of the tradable sector to shocks
 .
DTSTAMP:20231106T114433Z
DTSTART:20240208T100000Z
DTEND:20240208T120000Z
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