| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19207 |
| 来源ID | Working Paper 19207 |
| Unemployment Crises | |
| Nicolas Petrosky-Nadeau; Lu Zhang | |
| 发表日期 | 2013-07-11 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can potentially explain the large unemployment dynamics in the Great Depression. The limited response of wages to labor market conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise sharply in recessions but decline gradually in booms. The frequency, severity, and persistence of unemployment crises in the model are quantitatively consistent with U.S. historical time series. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w19207 |
| 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/576880 |
| 推荐引用方式 GB/T 7714 | Nicolas Petrosky-Nadeau,Lu Zhang. Unemployment Crises. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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