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The recovery from the Great Recession: a long, evolving expansion
Shambaugh, Jay C.; Strain, Michael R. - 2021
Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...
Persistent link: https://www.econbiz.de/10012405441
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Inequality in EU crisis countries : how effective were automatic stabilisers?
Callan, Tim; Doorley, Karina; Savage, Michael - 2018
The Great Recession and the widespread adoption of fiscal austerity policies have heightened concern about inequality and how well tax-benefit systems redistribute. We examine how the distribution of income in the EU countries which were hardest hit during the recession evolved over this time....
Persistent link: https://www.econbiz.de/10011821286
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Fiscal multipliers in the COVID-19 recession
Auerbach, Alan J.; Gorodnichenko, Yuriy; McCrory, Peter B. - 2021
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...
Persistent link: https://www.econbiz.de/10012705410
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Counteracting unemployment in crises : non-linear effects of short-time work policy
Gehrke, Britta; Hochmuth, Brigitte - 2018
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10011845664
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The long-term effects of labor market entry in a recession : evidence from the Asian financial crisis
Choi, Eleanor Jawon; Choi, Jaewoo; Son, Hyelim - 2020
This study investigates the long-term effects of initial labor market conditions by comparing cohorts who graduated from college before, during, and after the 1997-1998 Asian financial crisis in South Korea. We measure the overall welfare effect by examining their labor market activities, family...
Persistent link: https://www.econbiz.de/10012179332
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On the exposure of the BRIC countries to global economic shocks
Belke, Ansgar; Dreger, Christian; Dubova, Irina - 2017
China) countries. The results reveal a strong impact of international variables on GDP growth. In contrast to the other … countries, China plays a crucial role in determining global trade and oil prices. Hence, the change in the Chinese growth …
Persistent link: https://www.econbiz.de/10011631497
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The economic burden of chronic diseases : estimates and projections for China, Japan and South Korea
Bloom, David E.; Chen, Simiao; Kuhn, Michael; McGovern, … - 2017
China, Japan, and South Korea, and estimate the economic burden of chronic conditions in five domains (cardiovascular … non-communicable diseases over the period 2010-2030 are $16 trillion for China (measured in real USD with the base year …-effectiveness analysis by identifying some intervention strategies to reduce disease prevalence in China that are cost beneficial and …
Persistent link: https://www.econbiz.de/10011704338
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The German labor market during the Great Recession : shocks and institutions
Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018
This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10011916540
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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South … asymmetric effect on macro variables of China, Hong Kong, and South Korea during the quantitative easing period (QE) and the …
Persistent link: https://www.econbiz.de/10012226632
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COVID-19 and employment in South Korea: trends and comparison with the 2008 Financial Crisis
Nam, Minhyuk; Lee, Soohyung - 2021
We examine the impact of COVID-19 on employment in South Korea as of June 2020. To estimate the causal effect, we use two complementary methods. First, using individual-level data without residence information, we estimate the effects by controlling for detailed characteristics of individuals....
Persistent link: https://www.econbiz.de/10012431574