Hysteresis in Unemployment and Jobless Recoveries is popular PDF and ePub book, written by Dmitry Plotnikov in 2014-05-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Hysteresis in Unemployment and Jobless Recoveries can be Read Online from any device for your convenience.
Hysteresis in Unemployment and Jobless Recoveries Book PDF Summary
This paper develops and estimates a general equilibrium rational expectations model with search and multiple equilibria where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession and over the entire postwar period.
Detail Book of Hysteresis in Unemployment and Jobless Recoveries PDF
- Author : Dmitry Plotnikov
- Release : 06 May 2014
- Publisher : International Monetary Fund
- ISBN : 9781484372579
- Genre : Business & Economics
- Total Page : 37 pages
- Language : English
- PDF File Size : 16,8 Mb
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