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Business Cycle Asymmetries and the Labor Market

Kohlbrecher, Britta - 2016

This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic productivity shocks for new contacts. Large negative...

Persistent link: https://www.econbiz.de/10012994696

Two-Tier Labor Markets in the Great Recession : France vs. Spain

Bentolila, Samuel; Cahuc, Pierre; Dolado, Juan Jose; Le … - 2021

This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their labor market institutions are similar and their unemployment rates just before the crisis were both around 8%. Yet, in France, unemployment rate has increased by 2 percentage...

Persistent link: https://www.econbiz.de/10013316123

The Collapse Speed of China's Exports in the 2008-2009 Financial Crisis

Jing, Ran - 2011

This paper studies the performance of China's exports during the 2008—2009 financial crisis. It focuses on the speed at which China's exports were hit by this downturn. Product-country monthly exports data is utilized. It is found that GDP growth rates of importing countries play an important...

Persistent link: https://www.econbiz.de/10013120072

Unemployment in an Interdependent World

Felbermayr, Gabriel J. - 2010

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms. Countries may differ with respect to size, geographical location, and labor market institutions. Contrary to the literature, our single-sector perspective pays special attention...

Persistent link: https://www.econbiz.de/10013150804

Quality and the Great Trade Collapse

Chen, Natalie - 2015

We explore whether the global financial crisis has had heterogeneous effects on traded goods differentiated by quality. Combining a dataset of Argentinean firm-level destination-specific wine exports with quality ratings, we show that higher quality exports grew faster before the crisis, but...

Persistent link: https://www.econbiz.de/10013010482

Global Banking, Trade, and the International Transmission of the Great Recession

Born, Alexandra - 2018

The global financial crisis of 2007-2009 spread through different channels from its origin in the United States to large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify their relative importance for this transmission....

Persistent link: https://www.econbiz.de/10012920861

International Trade and Unemployment : A Quantitative Framework

Heid, Benedikt; Larch, Mario - 2021

Quantifying the welfare effects of trade liberalization is a core issue in international trade. Existing frameworks assume perfect labor markets and therefore ignore the effects of aggregate employment changes for welfare. We develop a quantitative trade framework which explicitly models labor...

Persistent link: https://www.econbiz.de/10013315832

Kirchgässner, Gebhard - 2010

Up to now there was a general conviction that increasing unemployment and inflation have a negative impact on the … the Schröder government. While the results for the former show the known pattern, neither unemployment nor inflation is … respect to inflation, however, the citizens might have recognised that they cannot any longer hold the government responsible …

Persistent link: https://www.econbiz.de/10013149367

The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...

Persistent link: https://www.econbiz.de/10013081055

Unemployment and Endogenous Reallocation Over the Business Cycle

Carrillo-Tudela, Carlos - 2013

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...

Persistent link: https://www.econbiz.de/10013087720