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The Labor Market in the Great Recession [PDF]
Federal Reserve Bank of San Francisco, Working Paper Series, 2010 This paper documents the adjustment of the labor market during the recession, and places it in the broader context of previous postwar downturns. What emerges is a picture of labor market dynamics with three key recurring themes: 1. From the perspective of a wide range of labor market outcomes, the 2007 recession represents the deepest downturn in the ...
Michael Elsby +2 more
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Violence in the Great Recession. [PDF]
Am J Epidemiol, 2022 Abstract Substantial evidence suggests that economic hardship causes violence. However, a large majority of this research relies on observational studies that use traditional violence surveillance systems that suffer from selection bias and over-represent vulnerable populations, such as people of color.
Santaularia NJ +3 more
europepmc +3 more sources
Young people and the Great Recession [PDF]
Oxford Review of Economic Policy, 2011 This article reviews the effects of the Great Recession on youth labour markets. We argue that young people aged 16-24 have suffered disproportionately during the recession. Using the USA and UK as case studies, we analyse youth unemployment using micro-data.
David Bell, David G. Blanchflower
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Consumption and the Great Recession [PDF]
, 2011 Introduction and summary The Great Recession of 2008-09 was characterized by the most severe year-over-year decline in consumption the United States had experienced since 1945. The consumption slump was both deep and long lived. It took almost 12 quarters for total real personal consumption expenditures (PCE) to go back to its level at the previous ...
Mariacristina De Nardi +2 more
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Intergenerational Redistribution in the Great Recession [PDF]
SSRN Electronic Journal, 2011 In this paper we construct a stochastic overlapping-generations general equilibrium model in which households are subject to aggregate shocks that affect both wages and asset prices. We use a calibrated version of the model to quantify how the welfare costs of severe recessions are distributed across different household age groups.
Andrew Glover +3 more
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The Great Recession was not so great [PDF]
Labour Economics, 2015 The Great Recession is characterized by a GDP-decline that was unprecedented in the past decades. This paper discusses the implications of the Great Recession analyzing labor market data from 20 OECD countries. Comparing the Great Recession with the 1980s recession it is concluded that there is a high cross-country correlation of the unemployment rates
Jan C. van Ours, Jan C. van Ours
openaire +7 more sources
(S)Cars and the Great Recession [PDF]
Econometrica, 2020 United States households' consumption expenditures and car purchases collapsed during the Great Recession and more so than income changes would have predicted. Using CEX data, we show that both the extensive and the intensive car spending margins contracted sharply in the Great Recession.
Orazio Attanasio +3 more
openaire +4 more sources
Escaping the Great Recession [PDF]
American Economic Review, 2014 We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great Recession: a deep recession, no deflation, and large ...
Bianchi, F, Melosi, L
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Understanding the Great Recession [PDF]
International Finance Discussion Papers, 2014 We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to financial frictions interacting with the zero lower bound. We reach this conclusion looking through the lens of a New Keynesian model in which firms face moderate degrees of price rigidities and no nominal rigidities in the wage setting ...
Christiano, Lawrence J. +2 more
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Precautionary Savings in the Great Recession [PDF]
IMF Economic Review, 2012 Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, the paper finds for a panel of advanced economies that greater labor income uncertainty is significantly associated with ...
Ashoka Mody +2 more
+8 more sources