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Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Erceg, Christopher J. - 2014

In this paper, we provide compelling evidence that cyclical factors account for the bulk of thepost-2007 decline in the U.S. labor force participation rate. We then proceed to formulate astylized New Keynesian model in which labor force participation is essentially acyclical during“normal...

Persistent link: https://www.econbiz.de/10013061162

Okun's Law, Development, and Demographics : Differences in the Cyclical Sensitivities of Unemployment Across Economy and Worker Groups

An, Zidong; Bluedorn, John C.; Ciminelli, Gabriele - 2022

The negative and stable relationship between an economy’s aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …

Persistent link: https://www.econbiz.de/10013306725

Labor Market Issues in the Caribbean : Scope to Mobilize Employment Growth

Kandil, Magda - 2014

The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the...

Persistent link: https://www.econbiz.de/10013049805

The Distributional Impact of Recessions : The Global Financial Crisis and the Pandemic Recession

Shibata, Ippei - 2020

Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...

Persistent link: https://www.econbiz.de/10012828220

Emerging Market Business Cycles : The Role of Labor Market Frictions

Boz, Emine - 2012

Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical...

Persistent link: https://www.econbiz.de/10013098278

A Fiscal Stimulus and Jobless Recovery

Cantore, Cristiano - 2013

We analyse the effects of a government spending expansion in a DSGE model with Mortensen-Pissarides labour market frictions, deep habits in private and public consumption, investment adjustment costs, a constant-elasticity-of-substitution (CES) production function, and adjustments in employment...

Persistent link: https://www.econbiz.de/10013086329

Labor Market Institutions and the Cost of Recessions

Krebs, Tom - 2017

This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance … search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

Persistent link: https://www.econbiz.de/10012956472

Macroprudential Policy and Labor Market Dynamics in Emerging Economies

Finkelstein Shapiro, Alan - 2015

consumption and output volatility, but generates larger unemployment fluctuations in response to productivity shocks; the same …

Persistent link: https://www.econbiz.de/10013023271

When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies

Bordon, Anna R. - 2016

Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a...

Persistent link: https://www.econbiz.de/10012993724

Financial Disruptions and the Cyclical Upgrading of Labor

Epstein, Brendan - 2017

unemployment. As such, our work contributes to resolving twolimitations of current general equilibrium labor-search theory: under … standard calibrations modelswithout OTJ search generate implausibly low unemployment volatility, while models with OTJsearch … generate unemployment volatility closer to the data but at the expense of implausibly lowconsumption and labor …

Persistent link: https://www.econbiz.de/10012950419