The Modigliani Puzzle Revisited: A Note

We estimate the relationship between investment and unemployment in order to explore whether the medium-term relationship emphasized by Franco Modigliani survived the recent Great Recession. Our results indicate that the relationship held up, both employment and investment fell although the estimated coefficient of investment is slightly smaller when the period 2000-2015 is added to the 1960-2000 period.

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Year of publication:	2017
Authors:	Katsimi, Margarita ; Zoega, Gylfi
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Modigliani puzzle \| investment \| unemployment \| Great Recession

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Series:	CESifo Working Paper ; 6833
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1011591901 [GVK] hdl:10419/174956 [Handle] RePec:ces:ceswps:_6833 [RePEc]
Classification:	J10 - Demographic Economics. General ; E20 - Consumption, Saving, Production, Employment, and Investment. General
Source:	EconStor

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011794172