Why is unemployment so countercyclical?
- We argue that wage inertia plays a pivotal role in allowing empirically plausible variants of the standard search and matching model to account for the large countercyclical response of unemployment to shocks.
Author: | Lawrence J. ChristianoGND, Martin S. EichenbaumGND, Mathias TrabandtORCiDGND |
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URN: | urn:nbn:de:hebis:30:3-630948 |
DOI: | https://doi.org/10.1016/j.red.2021.04.008 |
ISSN: | 1096-6099 |
Parent Title (English): | Review of economic dynamics |
Publisher: | ScienceDirect |
Place of publication: | Amsterdam [u.a.] |
Document Type: | Article |
Language: | English |
Date of Publication (online): | 2021/05/11 |
Date of first Publication: | 2021/05/11 |
Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
Release Date: | 2022/08/04 |
Tag: | Unemployment volatility; Wage inertia |
Volume: | 41.2021 |
Page Number: | 34 |
First Page: | 4 |
Last Page: | 37 |
HeBIS-PPN: | 502347996 |
Institutes: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
Sammlungen: | Universitätspublikationen |
Licence (German): | Creative Commons - Namensnennung 4.0 |