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Labor market participation, unemployment and monetary policy
Campolmi, Alessia; Gnocchi, Stefano - 2014
We incorporate a participation decision in a standard New Keynesian model with matching frictions and show that treating the labor force as constant leads to incorrect evaluation of alternative policies. We also show that the presence of a participation margin mitigates the Shimer critique.
Persistent link: https://www.econbiz.de/10010254334
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Unemployment rate benchmarks
Crump, Richard K.; Nekarda, Christopher J.; … - 2020
This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … assessing the current state of the economy as it relates to the pursuit of both price stability and maximum employment. In … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to …
Persistent link: https://www.econbiz.de/10012389411
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Recovery beating expectations : economic analysis and outlook for Central, East and Southeast Europe : wiiw forecast report autumn 2021
Astrov, Vasily; Bykova, Alexandra; Grieveson, Richard; … - Wiener Institut für Internationale Wirtschaftsvergleiche - 2021
The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
Persistent link: https://www.econbiz.de/10012663107
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …
Persistent link: https://www.econbiz.de/10012157899
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Labor market participation, unemployment and monetary policy
Campolmi, Alessia; Gnocchi, Stefano - 2011
paper is threefold: first, we show that the model provides a good fit for employment and unemployment volatility, as well as … volatility of employment and unemployment. Finally, we show the role of search costs in shaping those results. -- matching …
Persistent link: https://www.econbiz.de/10009157609
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Labour force participation and monetary policy in the wake of the Great Recession
Erceg, Christopher J.; Levin, Andrew T. - In: Journal of money, credit and banking : JMCB 46 (2014), pp. 3-49
Persistent link: https://www.econbiz.de/10010471074
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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
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Involuntary unemployment and the business cycle
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - In: Review of economic dynamics 39 (2021), pp. 26-54
Persistent link: https://www.econbiz.de/10012795084
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Labor force participation and monetary policy in the wake of the Great Recession
Erceg, Christopher J.; Levin, Andrew T. - 2013
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal...
Persistent link: https://www.econbiz.de/10012667415
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Labor force participation and monetary policy in the wake of the great recession
Erceg, Christopher J.; Levin, Andrew T. - 2013
Persistent link: https://www.econbiz.de/10010193255