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Interaction between supply and demand shocks in production and employment

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Persistent link: https://www.econbiz.de/10000961559

Vicious and virtuous circles : the political economy of unemployment in interwar UK and USA

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Labor-market volatility in the search-and-matching model : the role of investment-specific technology shocks

Faccini, Renato (contributor); … - 2008

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Vicious and virtuous circles : the political economy of unemployment in interwar UK and USA

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Expectations, monetary policy, and labor markets : lessons from the Great Depression

Reicher, Christopher Phillip - 2009

This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...