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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence

Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - 2013

The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...

Persistent link: https://www.econbiz.de/10010329115

Unemployment and endogenous reallocation over the business cycle

Carrillo-Tudela, Carlos; Visschers, Ludo - 2013

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...

Persistent link: https://www.econbiz.de/10010331219

Wie wirken die automatischen Stabilisatoren in der Wirtschaftskrise? Deutschland im Vergleich mit der EU und den USA

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2009

Europäischen Union und in den USA in der aktuellen Wirtschaftskrise. Dazu werden zwei Szenarien simuliert: erstens ein … absorbiert werden, verglichen mit 32 % in den USA. Im Fall des Beschäftigungsschocks ist der Unterschied zwischen Europa und den … USA deutlich größer: 48 % in der EU und lediglich 34 % in den USA. Unter der Annahme, dass nur die Nachfrage …

Persistent link: https://www.econbiz.de/10010331512

Why are the wages of job stayers procyclical?

Shin, Donggyun; Shin, Kwanho - 2003

This paper explains how real wages are procyclical for those who stay with the same employer. On the basis of the Panel Study of Income Dynamics data for the period of 1974-75 to 1990-91, we find that the substantial wage procyclicality among job stayers is mostly accounted for by great wage...

Persistent link: https://www.econbiz.de/10010332411

Unemployment benefits and unemployment in the great recession: The role of macro effects

Hagedorn, Marcus; Karahan, Fatih; Manovskii, Iourii; … - 2013

We exploit a policy discontinuity at U.S. state borders to identify the effects of unemployment insurance policies on unemployment. Our estimates imply that most of the persistent increase in unemployment during the Great Recession can be accounted for by the unprecedented extensions of...

Persistent link: https://www.econbiz.de/10010333564

Household leveraging and deleveraging

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013

U.S. households' debt skyrocketed between 2000 and 2007, but has since been falling. This leveraging and deleveraging cycle cannot be accounted for by the liberalization and subsequent tightening of mortgage credit standards that occurred during the period. We base this conclusion on a...

Persistent link: https://www.econbiz.de/10010333598

Can intangible capital explain cyclical movements in the labor wedge?

Gourio, François; Rudanko, Leena - 2014

Intangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production...

Persistent link: https://www.econbiz.de/10010352192

Policy uncertainty and aggregate fluctuations

Mumtaz, Haroon; Surico, Paolo - 2013

This paper estimates the impact on the US economy of four types of uncertainty about (i) government spending, (ii) tax changes, (iii) public debt sustainability and (iv) monetary policy. Following a one standard deviation shock, uncertainty about debt sustainability has the largest and most...

Persistent link: https://www.econbiz.de/10010368163

Classification and Clustering in Business Cycle Analysis

Heilemann, Ullrich (contributor); Weihs, Claus (contributor) - 2007

The analysis of cyclical macroeconomic phenomena is an important field of econometric research. In the recent past, research interests have de-emphasized quantitative forecasting exercises and have addressed the qualitative diagnosis of the relative stance of the economy regarding "upswing",...

Persistent link: https://www.econbiz.de/10011598605

Erste Anzeichen für eine Erholung der Welt-Metallmärkte

Wettig, Eberhard - In: DIW Wochenbericht 69 (2002) 11, pp. 188-195

geführt. Die Terroranschläge in den USA und ihre Folgewirkungen trugen zu einer weiteren Verunsicherung von Käufern und …

Persistent link: https://www.econbiz.de/10011601341