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Author: Sylvain Leduc
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Sylvain Leduc
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: David A. Brauer
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 16
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Book Description
The deep recession that began in December 2007, when the economy began to contract, and ended in June 2009, when the economy began to expand again, has had a lasting effect on the labor market. More than four and a half years after the end of the recession, employment has risen sluggishly—much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment rate has fallen only partway back to its prerecession level, and a significant part of that improvement is attributable to a decline in labor force participation that has occurred as an unusually large number of people have stopped looking for work.
Author: Kyla C. Sims
Publisher: Nova Science Publishers
ISBN: 9781631178900
Category : Global Financial Crisis, 2008-2009
Languages : en
Pages : 0
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Book Description
The deep recession that began in December 2007 and ended in June 2009, has had a lasting effect on the labour market. More than four and a half years after the end of the recession, employment has risen sluggishly -- much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment rate has fallen only partway back to its pre-recession level, and a significant part of that improvement is attributable to a decline in labour force participation that has occurred as an unusually large number of people have stopped looking for work. This book discusses this slow recovery of the labour market, as well as assesses the relative magnitudes of cyclical and structural unemployment as they respond to different policy measures.
Author: Tsu-ting Tim Lin
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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The three most recent downturns, in contrast with other post-war recessions, are characterized by slow recoveries in employment despite positive economic growth. I find that recent recoveries coincide with high uncertainty about economy-wide corporate profits at a time when output begins to rebound, a pattern that was not observed in the earlier recessions. To examine the role of uncertainty in jobless recoveries, I develop a dynamic stochastic general equilibrium model with search and matching frictions in the labor market and an intensive labor margin. The model is driven by productivity and time-varying volatility shocks. The uncertainty agents face is captured by time-varying volatility. Labor market search frictions generate costly labor adjustment. When an uncertainty shock hits the economy, firms reduce the number of vacancies posted because they are reluctant to make costly adjustments along the extensive margin. Instead, firms require more effort from their employees. This, along with positive productivity shocks, can result in jobless recoveries. I calibrate the model and show that, with the addition of uncertainty shocks, this model produces labor market dynamics that allows it to address recent episodes of jobless recoveries.
Author: Sarah Damaske
Publisher: Princeton University Press
ISBN: 0691200149
Category : Business & Economics
Languages : en
Pages : 336
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"Although media outlets dubbed the Great Recession of 2007-2009 a 'man-cession' because men's job losses were double women's at first, women experienced greater job loss after the so-called 'conclusion' of the recession and recovered jobs at a slower rate than men. Women also appeared to face greater economic consequences of job loss: they were more likely than men to experience hunger and deprivation. These trends bring us to the first puzzle at the heart of this book: do women and men experience job loss and its effects differently? Using in-depth interviews from 100 people from rural and urban counties in Pennsylvania, Sarah Damaske investigates how men and women of different classes lose jobs, experience the economic and social ramifications of their unemployment in their own lives and their family life, and begin to search for work again"--
Author: Sangyup Choi
Publisher: International Monetary Fund
ISBN: 1498328539
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
Author: Vivek Ghosal
Publisher: International Monetary Fund
ISBN: 1475552513
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regressionbased forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment, and the effects are primarily felt by the relatively smaller businesses; the impact on large businesses are generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we need to focus on the relatively smaller and entrepreneurial businesses. We discuss implications for the framing of economic policy.
Author: Jared Bernstein
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 28
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Book Description
Although the recent recession was officially declared over as of November 2001, on Labor Day 2003 the job market remains decidedly weak. Unemployment is high and, instead of coming down in the nascent recovery, it has climbed from 5.6% at the recession's end to 6.2% in July 2003 (the most recent data available). Tracking the nation's payrolls reveals the worst hiring slump since the Great Depression. And the weak labor market is not just a problem for those without jobs--wages have been growing more slowly for most workers and even falling in real terms for some. How could it be that the nation's economy is supposedly in recovery yet the job market is much weaker now than when the recession ended? The explanation has something to do with the criteria used to determine when a recession ends, but the main point is that, although the economy is expanding, it is doing so at too slow a rate to quickly lower unemployment or generate the needed job growth.
Author: Iyanatul Islam
Publisher: International Labour Organisation
ISBN: 9789221240310
Category : Political Science
Languages : en
Pages : 300
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Book Description
The Great Recession was one of the most traumatic global events of the first decade of the twenty-first century. This book showcases research undertaken by leading experts on the macroeconomic and labour market dimensions of the financial crisis of 2007-2009. It provides a global overview, interpreting the causes, consequences and policy responses to the Great Recession from the perspective of both developing and developed countries.
Author: David Brauer
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 16
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Book Description
