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.
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| Author: | Lawrence J. ChristianoGND, Martin S. EichenbaumGND, Mathias TrabandtORCiDGND |
|---|---|
| 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 |
