G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w20694
来源IDWorking Paper 20694
Unemployment in the Great Recession: A Comparison of Germany, Canada and the United States
Florian Hoffmann; Thomas Lemieux
发表日期2014-11-24
出版年2014
语种英语
摘要This paper investigates the potential reasons for the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates did not change substantially in Germany, increased and remained at relatively high levels in the United States, and increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains largely above its pre-recession level. We find two main explanations for these differences. First, the large employment swings in the construction sector linked to the boom and bust in U.S. housing markets can account for a large fraction of the cross-country differences in aggregate labor market outcomes for the three countries. Second, cross-country differences are consistent with a conventional Okun relationship linking GDP growth to employment performance. In particular, relative to pre-recession trends there has been a much larger drop in GDP in the United States than Germany between 2008 and 2012. In light of these facts, the strong performance of the German labor market is consistent with other aggregate outcomes of the economy.
主题Labor Economics ; Labor Supply and Demand ; Unemployment and Immigration
URLhttps://www.nber.org/papers/w20694
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578368
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GB/T 7714
Florian Hoffmann,Thomas Lemieux. Unemployment in the Great Recession: A Comparison of Germany, Canada and the United States. 2014.
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