Brinca, P.; Chari, V.V.; Kehoe, P.J.; McGrattan, E. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1013-1063). 2016
, Ireland, and Iceland, the Great Recession was driven primarily by the efficiency wedge. Second, in the Great Recession, the … labor wedge plays a dominant role only in the United States, and the investment wedge plays a dominant role in Spain …, Ireland, and Iceland. Third, in the recessions of the 1980s, the labor wedge played a dominant role only in France, the United …