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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - Institute for the Study of Labor (IZA) - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10010709718
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Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation
Coibion, Olivier; Gorodnichenko, Yuriy - In: American Economic Journal: Macroeconomics 7 (2015) 1, pp. 197-232
We evaluate explanations for the absence of disinflation during the Great Recession and find popular explanations to be insufficient. We propose a new explanation for this puzzle within the context of a standard Phillips curve. If firms' inflation expectations track those of households, then the...
Persistent link: https://www.econbiz.de/10011107225
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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - National Bureau of Economic Research (NBER) - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10010885297
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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10010329115
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Amerisclerosis? : the puzzle of rising US unemployment persistence
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10010207304
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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10013073937
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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier - 2014
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10013061955
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Labor markets during the covid-19 crisis : a preliminary view
Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020
We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million...
Persistent link: https://www.econbiz.de/10012206097
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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - Federal Reserve Bank of Richmond - 2014
-income households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high-inequality … regions accumulated less debt relative to income than their counterparts in lower-inequality regions, which negates the … during the 2000s. We present a model in which banks use applicants’ incomes, combined with local income inequality, to infer …
Persistent link: https://www.econbiz.de/10010758366
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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - Institute for the Study of Labor (IZA) - 2014
households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high-inequality … regions accumulated less debt relative to income than their counterparts in lower-inequality regions, which negates the … during the 2000s. We present a model in which banks use applicants' incomes, combined with local income inequality, to infer …
Persistent link: https://www.econbiz.de/10010884200