Kaiser, Micha; Reutter, Mirjam; Sousa-Poza, Alfonso; … - 2017
macro-economic conditions in the form of regional unemployment rates. The results from our panel data models, several of … downturn, with an approximately 0.7 percentage point increase for each one percentage point rise in the unemployment rate … percentage point increase in the regional unemployment rate leading to an up to 0.8 percent decrease in consumption. …