Hysteresis Vs. Natural Rate of US Unemployment
Author :
Publisher :
Page : pages
File Size : 23,64 MB
Release : 2011
Category :
ISBN :
Author :
Publisher :
Page : pages
File Size : 23,64 MB
Release : 2011
Category :
ISBN :
Author : Rod Cross
Publisher :
Page : 416 pages
File Size : 18,36 MB
Release : 1988
Category : Employment (Economic theory)
ISBN : 9780063115682
Aimed at economists and students of macroeconomics and labour economics, this collection of essays covers topics ranging from hysteresis and the natural rate to characteristics of the unemployed.
Author : Rod Cross
Publisher :
Page : 15 pages
File Size : 11,43 MB
Release : 1989
Category : Economics
ISBN :
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
Page : 50 pages
File Size : 18,76 MB
Release : 2020-05-29
Category : Business & Economics
ISBN : 1513536990
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Gilbert E. McNeill
Publisher :
Page : 25 pages
File Size : 41,40 MB
Release : 1992
Category : Unemployment
ISBN :
Author :
Publisher :
Page : 409 pages
File Size : 39,69 MB
Release : 1986
Category :
ISBN : 9780262560375
Author : Dmitry Plotnikov
Publisher : International Monetary Fund
Page : 37 pages
File Size : 31,30 MB
Release : 2014-05-06
Category : Business & Economics
ISBN : 1484372573
This paper develops and estimates a general equilibrium rational expectations model with search and multiple equilibria where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession and over the entire postwar period.
Author : Rod Cross
Publisher :
Page : 31 pages
File Size : 10,60 MB
Release : 1989*
Category : Economic lag
ISBN :
Author : Rod Cross
Publisher :
Page : 21 pages
File Size : 27,93 MB
Release : 1989
Category : Economic lag
ISBN :
Author : Central Bank of Ireland (1943-2003)
Publisher :
Page : 0 pages
File Size : 25,31 MB
Release : 1988
Category :
ISBN :