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unemployment and underemployment, employment, workweeks, wages, vacancies, hiring, layoffs, quits, and surveys of consumers' and … payroll employment and the unemployment rate. Other influential indicators include the insured unemployment rate, consumers … perspective of the model, the unemployment rate declined a bit faster over the past two years than was consistent with the other …
Persistent link: https://www.econbiz.de/10011119857
small businesses in the United States are one of the drivers explaining the unemployment dynamics during the Great Recession …
Persistent link: https://www.econbiz.de/10011075116
We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to financial frictions interacting with the zero lower bound. We reach this conclusion looking through the lens of a New Keynesian model in which firms face moderate degrees of price...
Persistent link: https://www.econbiz.de/10010787055
The 2007-2009 recession is characterized by: a large drop in employment, an unprecedented decline in firm entry, and a slow recovery. Using confidential firm-level data, I show that financial constraints reduced employment growth in small relative to large firms by 4.8 to 10.5 percentage points....
Persistent link: https://www.econbiz.de/10010886223
unemployment between the early 1980s and the early 2000s, and a decline in participation since the early 2000s. Using CPS micro … nonparticipants implies a lower unemployment rate, because marginal nonparticipants enter the labor force mostly through unemployment …
Persistent link: https://www.econbiz.de/10010728881
We develop a theory that focuses on the general equilibrium and long-run macroeconomic consequences of trends in job utility. Given secular increases in job utility, work hours per capita can remain approximately constant over time even if the income effect of higher wages on labor supply...
Persistent link: https://www.econbiz.de/10010787058
Many countries have large employment shares in micro and small firms that have limited access to formal financing and therefore rely on input credit. Such countries are mainly emerging and developing economies, whose business cycle dynamics are increasingly important for the global economy in...
Persistent link: https://www.econbiz.de/10010892325
-run inflation-unemployment tradeoff. Two conflicting motives drive policy. In the static version of the model, uncertainty provides …
Persistent link: https://www.econbiz.de/10005721255
change that renders the natural rates of interest and unemployment uncertain. Using a forward-looking quarterly model of the … rules do not require knowledge of the natural rates of interest or unemployment for setting policy and are consequently …
Persistent link: https://www.econbiz.de/10005394108
This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …, technical change, and a productivity slowdown. We derive the consequences for the skilled-to unskilled wage gap, unemployment …
Persistent link: https://www.econbiz.de/10005368256