| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16558 |
| DP16558 Estimating Hysteresis Effects | |
| Francesco Furlanetto; Antoine Lepetit; Ørjan Robstad; Juan Francisco Rubio-Ramírez; Pål Ulvedal | |
| 发表日期 | 2021-09-15 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | In this paper we identify demand shocks that can have a permanent effect on output through hysteresis effects. We call these shocks permanent demand shocks. They are found to be quantitatively important in the United States, in particular when the Great Recession is included in the sample. Recessions driven by permanent demand shocks lead to a permanent decline in employment and investment (including R&D investment), while output per worker is largely unaffected. We find strong evidence that hysteresis transmits through a rise in long-term unemployment and a decline in labor force participation and disproportionately affects the least productive workers. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp16558 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545509 |
| 推荐引用方式 GB/T 7714 | Francesco Furlanetto,Antoine Lepetit,Ørjan Robstad,et al. DP16558 Estimating Hysteresis Effects. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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