Author: Jaap H. AbbringPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 52
Book Description
Business Cycles and Compositional Variation in US Unemployment
Author: Jaap H. AbbringPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 52
Book Description
Business Cycles and Compositional Variation in U.S. Unemployment
Author: Jaap H. AbbringPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 42
Book Description
In the past decades several decades several features of U.S. unemployment dynamics have been investigated empirically. The original focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial approach of previous studies this paper takes all elements of unemployment dynamics simultaneously into account. The paper finds that cyclical fluctuations in unemployment are driven by variations in the incidence, individual exit probabilities and the composition of the inflow into unemployment. The paper also finds negative duration dependence of the unemployment exit rate which can be attributed to employers ranking workers according to the length of their unemployment spell.
Business Cycles and Compositional Variation in US Employment
Author: Jaap H. AbbringCycles of Unemployment in the United States, 1903-1922
Author: William Arthur BerridgePublisher: Boston : Houghton Mifflin
ISBN:
Category : Unemployed
Languages : en
Pages : 116
Book Description
Business Cycles and Compositional Variation in US Unemploymesnt
Author: Jaap H. AbbringThe American Business Cycle
Author: Robert J. GordonPublisher: University of Chicago Press
ISBN: 0226304590
Category : Business & Economics
Languages : en
Pages : 882
Book Description
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them." In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the labor market. Five papers focus on aggregate economic activity. In a number of cases, the papers present findings that challenge widely accepted models and assumptions. In addition to its substantive findings, The American Business Cycle includes an appendix containing both the first published history of the NBER business-cycle dating chronology and many previously unpublished historical data series.
Business Cycles and Compositioal Variation in US Unemployment
Author: Jaap H. AbbringWhat Prevents a Real Business Cycle Model from Matching the U.S. Data? Decomposing the Labor Wedge
Author: Dmitry PlotnikovPublisher: International Monetary Fund
ISBN: 1484319109
Category : Business & Economics
Languages : en
Pages : 35
Book Description
I carry out a business cycle accounting exercise (Chari, Kehoe and McGrattan, 2007) on the U.S. data measured in wage units (Farmer (2010)) for the entire postwar period. In contrast to a conventional approach, this approach preserves common medium-term business cycle fluctuations in GDP, its components and the unemployment rate. Additionally, it facilitates decomposition of the labor wedge into the labor supply and the labor demand wedges. Using this business cycle accounting methodology, I find that in the transformed data, most movements in GDP are accounted for by the labor supply wedge. Therefore, I reverse a key finding of the real business cycle literature which asserts that 70% or more of economic fluctuations can be explained by TFP shocks. In other words, the real business cycle model fits the data badly because the assumption that households are on their labor supply equation is flawed. This failure is masked by data that has been filtered with a conventional approach that removes fluctuations at medium frequencies. My findings are consistent with the literature on incomplete labor markets.
Business Cycles and Unemployment
Author: Unemployment Dynamics in the United States and West Germany
Author: Markus GanglPublisher: Springer Science & Business Media
ISBN: 3642573347
Category : Business & Economics
Languages : en
Pages : 295
Book Description
In writing this book, I increasingly became aware of the extent to which much of the finest social science research has been devoted to the issue of unemployment. Unemployment rightly is a key issue in the social sciences for search of social and political answers to the economic, social and psychological distress caused by un certainty and macroeconomic change. I was glad to find my own worries shared by eminent and respected scholars: George Akerlof once confessed to pursue the study of unemployment ultimately because of his father's distress from fear of un employment, and Wout Ultee started research on unemployment from the consid eration that parents' talk about unemployment risks should not come to dominate marriage parties or other family occasions. The problem of unemployment is thus hardly confmed to actual loss of income, but one where economic insecurity be gins to undermine the very fabric of society. In consequence, to combat unem ployment should indeed be a foremost issue in societies striving for freedom and justice for their citizenry, yet to succeed obviously requires an understanding of the underlying economic realities. If this study could contribute to this endeavor, all the time spent in writing would seem well spent indeed. Against the significant body of existing social science research on unemploy ment, it seems appropriate to be clear about the scope and limitations of the cur rent study, however.