Results 11 to 20 of about 72,906 (44)
A Model of Secular Stagnation: Theory and Quantitative Evaluation
American Economic Journal: Macroeconomics, 2017 This paper formalizes and quantifies the secular stagnation hypothesis, defined as a persistently low or negative natural rate of interest leading to a chronically binding zero lower bound (ZLB).
Gauti B. Eggertsson +2 more
semanticscholar +1 more source
Five Facts About the Distributional Income Effects of Monetary Policy
Social Science Research Network, 2022 We document five facts about the distributional income effects of monetary policy shocks using Swedish administrative individual-level data. (i) The effects of monetary policy shocks are U shaped over the income distribution—that is, expansionary shocks ...
Niklas Amberg +3 more
semanticscholar +1 more source
Skill Remoteness and Post-Layoff Labor Market Outcomes
Social Science Research NetworkLocal skill remoteness captures the dissimilarity between the skill profiles of a worker’s last job and other jobs in a local labor market. Higher skill remoteness at layoff is associated with persistently lower earnings after layoff, a higher ...
Claudia Macaluso
semanticscholar +1 more source
Debt Moratoria: Evidence from Student Loan Forbearance
Social Science Research Network, 2023 We evaluate the effects of the 2020 student debt moratorium. Using administrative credit panel data, we compare borrowers whose loans were frozen to borrowers whose loans were not frozen based on whether the government owned the loans.
Michael Dinerstein +2 more
semanticscholar +1 more source
Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
American Economic Journal: Macroeconomics, 2016 We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn. We motivate, develop, and estimate a model with an endogenous
D. Anzoategui +3 more
semanticscholar +1 more source
The Evolution of Local Labor Markets after Recessions
Social Science Research NetworkThis paper studies how US local labor markets respond to employment losses that occur during recessions. Following recessions from 1973 through 2009, we find areas that lose more jobs during the recession experience persistent relative declines in ...
Brad J. Hershbein, B. Stuart
semanticscholar +1 more source
Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?
American Economic Journal: Economic Policy, 2017 A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region of a monetary union. Empirical studies of such multipliers have proliferated.
Gabriel Chodorow-reich
semanticscholar +1 more source
Rational Inattention and the Business Cycle Effects of Productivity and News Shocks
Social Science Research NetworkWe solve a real business cycle model with rational inattention (an RI-RBC model). In the RI-RBC model, the growth rates of employment, investment, and output are about as persistent as in the data, with an amount of inattention consistent with survey ...
Bartosz Mackowiak, Mirko Wiederholt
semanticscholar +1 more source
The 1918 Influenza Pandemic and its Lessons for Covid-19
Journal of Economic Literature, 2020 This article reviews the global health and economic consequences of the 1918 influenza pandemic, with a particular focus on topics that have seen a renewed interest because of COVID-19.
B. Beach, K. Clay, Martin Saavedra
semanticscholar +1 more source
Social Science Research NetworkThis paper proposes a central fiscal capacity for the euro area that generates transfers in response to euro area, country, and region-specific shocks.
R. Beetsma +2 more
semanticscholar +1 more source