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The recovery from the Great Recession: a long, evolving expansion

Shambaugh, Jay C.; Strain, Michael R. - 2021

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Persistent link: https://www.econbiz.de/10012405441

Are Real Wages Procyclical Conditional on a Monetary Policy Shock?

Ma, Eunseong - 2020

It is well-known that real wages are procyclical conditional on a monetary policy shock. This paper challenges this … conventional view by using a quantitative heterogeneous-agent New Keynesian economy with sticky wages. In the model with benchmark … wages (average hourly earnings) increase. This implies that true real wages may be countercyclical conditional on a monetary …

Persistent link: https://www.econbiz.de/10014091478

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

The nonneutrality of monetary policy with large price or wage setters

Soskice, David W.; Iversen, Torben - In: The quarterly journal of economics 115 (2000) 1, pp. 265-284

Persistent link: https://www.econbiz.de/10001491410

Monetary shocks and sticky wages in the U.S. great contraction : a multi-sector approach

Amaral, Pedro S.; MacGee, James - In: Journal of monetary economics 92 (2017), pp. 112-129

Persistent link: https://www.econbiz.de/10011799587

Structural or cyclic? : labor markets in recessions : how should policy respond to higher unemployment?

Lazear, Edward P. - 2014

Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing debate. One view suggests there are fundamental changes in the labor market that imply a long-term higher rate of unemployment, requiring the implementation of structural policy...

Persistent link: https://www.econbiz.de/10011413609

The curious incidence of monetary policy across the income distribution

Broer, Tobias; Kramer, John Vincent; Mitman, Kurt - 2022

We use high-frequency administrative data from Germany to study the effects of monetary policy on income and employment … shocks. This unequal incidence is driven by differences in the response of employment risk across the distribution: job loss …

Persistent link: https://www.econbiz.de/10013402011

Wage restraint, employment, and the legacy of the General Theory's Chapter 19

Landmann, Oliver - In: Beiträge zur Mikro- und zur Makroökonomik : …, (pp. 291-305). 2001

Persistent link: https://www.econbiz.de/10014553671

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

Three essays on macroeconomics

Pruitt, Seth - 2008

Persistent link: https://www.econbiz.de/10011574006

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