aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 … hours. We show that the short-run response of aggregate hours to a positive technology shock is remarkably similar across …

output increase but firms also post more vacancies, hours worked increase and unemployment falls. Moreover, we study the …, increasing the volatility of unemployment, vacancies and total hours more than twofold …

This paper identifies the effect of variation in government-backed loan supply on unemployment exploiting regional …. This variation helps disentangling supply from demand effects. Higher loan supply reduces unemployment. Increasing the … between CHF 39,700 and CHF 52,400 per year. These costs are somewhat lower than unemployment benefits associated with the …

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial … conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on … in labor and financial markets. We provide compelling micro-evidence of the unemployment accelerator: a 10% increase in a …

increase in unemployment during the great recession …

money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times. -- business …