| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18434 |
| 来源ID | Working Paper 18434 |
| Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence | |
| Luca Sala; Ulf Söderström; Antonella Trigari | |
| 发表日期 | 2012-10-05 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We use an estimated monetary business cycle model with search and matching frictions in the labor market and nominal price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and the Great Recession. We estimate the model over the period prior to the financial crisis and use the model to interpret movements in GDP, unemployment, vacancies, and wages in the period from 2007 until 2011. We show that contractionary financial factors and reduced efficiency in labor market matching were largely responsible for the experience in the U.S. Financial factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low. A counterfactual experiment suggests that unemployment in Germany would have been substantially higher if the German labor market had been more similar to that in the U.S. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w18434 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576110 |
| 推荐引用方式 GB/T 7714 | Luca Sala,Ulf Söderström,Antonella Trigari. Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18434.pdf（1453KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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