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We revisit the hypothesis that labor market fluctuations are driven by shocks to the discount rate. Using a model in which the UE and the EU rates are endogenous, we show that an increase in the discount rate leads to a decline in both the UE and the EU rates. In the data, though, the UE and EU...
Persistent link: https://www.econbiz.de/10012867149
In recent US recessions, employment losses have been much larger for men than for women. Yet, in the current recession … caused by the Covid-19 pandemic, the opposite is true: unemployment is higher among women. In this paper, we analyze the … suggests that a pandemic recession will i) feature a strong transmission from employment to aggregate demand due to diminished …
Persistent link: https://www.econbiz.de/10012826247
Using highly granular micro data, we document very divergent economic effects of the COVID-19 pandemic on Swedish private-sector firms and their workers. Firms that exported to, or imported from, heavily afflicted countries reduced their output due to disrupted trade. Service firms that operated...
Persistent link: https://www.econbiz.de/10014081269
The "Great Recession" resulted in many business closings and foreclosures, but what effect did it have on business … conditions are a major determinant of entrepreneurship. Higher local unemployment rates are found to increase the probability … individuals who are initially not employed respond more to high local unemployment rates by starting businesses than wage …
Persistent link: https://www.econbiz.de/10013037946
This paper assesses the impact that the 2009 Great Recession had on individual's transitions to and from unemployment … factor in both supporting unemployment exits and reducing the risk of becoming unemployed since the recession. The scarring … impact of long-term unemployment appears to have fallen substantially in Ireland post-recession. The results from a …
Persistent link: https://www.econbiz.de/10013047869
Using data from the CPS this paper examines the role of birth-country networks on immigrants' unemployment duration … from 2001 to 2013. We find that networks significantly lower unemployment duration for all immigrants. Varying the effect … the post recession period. This supports the Calvo-Armengol and Jackson hypothesis which posits that longer the agent is …
Persistent link: https://www.econbiz.de/10012982118
affected by the Great Recession. We analyze unemployment data covering the period November 2007 to February 2013 finding that … the Great Recession affected unemployment rates of non-western immigrant workers in absolute terms more than unemployment …-western immigrants. In combination our findings suggest that the Great Recession did not have a different impact on the unemployment of …
Persistent link: https://www.econbiz.de/10013076157
Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in … Recession's official end in the summer of 2009, but because it was slow and the depth of the recession so deep, it took years to … reduce slack in labor markets. But because the slow-and-steady recovery lasted so long, many pre-recession peaks were …
Persistent link: https://www.econbiz.de/10013251540
. Furthermore, the huge drop in unemployment outs in the recession, particularly for men, has led to unprecedented levels of long …The Great Recession has had a disproportionately negative effect on working men compared to working women in many OECD … countries and led to gender convergence in aggregate unemployment rates. In this paper we seek the sources of this recent …
Persistent link: https://www.econbiz.de/10013016360
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 points, whereas in Spain it has shot up to 19% by the end of 2009. We …
Persistent link: https://www.econbiz.de/10013135650