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Mismatch Shocks and Unemployment During the Great Recession

Furlanetto, Francesco - 2015

sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We … find that this shock is not important for unemployment fluctuations in normal times. However, it plays a somewhat larger … role during the Great Recession when it contributes to raise the actual unemployment rate by around 1.3 percentage points …

Persistent link: https://www.econbiz.de/10013032742

Uncertainty Shocks and Inflation Dynamics in the US

Haque, Qazi; Magnusson, Leandro M. - 2020

effects of uncertainty shocks on inflation. We find the response of inflation to be statistically insignificant until mid …

Persistent link: https://www.econbiz.de/10014090743

Commodity Prices and Labour Market Dynamics in Small Open Economies

Bodenstein, Martin - 2016

We investigate the connection between commodity price shocks and unemployment in advanced resource-rich small open … increase in commodity prices, our estimates suggest a one basis point decline in the unemployment rate and at its peak a 0 … number of matches between firms and workers to rise. As a result, unemployment falls, even if employment in the commodity …

Persistent link: https://www.econbiz.de/10012993034

Softening the Blow : US State-level Banking Deregulation and Sectoral Reallocation after the China Trade Shock

Hoffmann, Mathias; Ruslanova, Lilia - 2021

U.S. state-level banking deregulation during the 1980’s mitigated the impact of the China trade shock (CTS) on local economies (states and commuting zones) a decade later, in the 1990s. Local economies, where local banking markets opened up earlier, were also effectively financially more...

Persistent link: https://www.econbiz.de/10013244965

Impact of Uncertainty Shocks on Income and Wealth Inequality

Choi, Sangyup; Phi, Jeeyeon - 2023

significantly. Additionally, uncertainty shocks increase labor income inequality through higher unemployment rates, but …

Persistent link: https://www.econbiz.de/10014352815

Disentangling Commodity Demand, Commodity Supply, and International Liquidity Shocks on An Emerging Market

Fry-McKibbin, Renee - 2020

This paper examines the effects of commodity demand and supply shocks as well as international liquidity shocks on the small open economy of Brazil using an SVAR model. The paper highlights the importance of modeling both types of shocks in the commodity sector. Including only commodity prices...

Persistent link: https://www.econbiz.de/10012840547

Uncertainty and Monetary Policy During Extreme Events

Pellegrino, Giovanni - 2020

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

Persistent link: https://www.econbiz.de/10012824111

Uncertainty and Monetary Policy in Good and Bad Times : A Replication of the VAR Investigation by Bloom (2009)

Caggiano, Giovanni - 2020

This paper revisits the well-known VAR evidence on the real effects of uncertainty shocks by Bloom (Econometrica 2009(3): 623-685. doi: 10.3982/ECTA6248). We replicate the results in a narrow sense using Eviews. In a wide sense, we extend his study by working with a smooth transition-VAR...

Persistent link: https://www.econbiz.de/10012825689

The Asymmetric Effects of Uncertainty Shocks

Paccagnini, Alessia - 2020

This study evaluates the effects of financial uncertainty shocks in the US, investigating the role of the monetary policy stance. Estimating a nonlinear Vector Autoregressive, we find that an uncertainty shock triggers asymmetric and negative effects across the business cycle. The reactions of...

Persistent link: https://www.econbiz.de/10012826575

Uncertainty and Sign-Dependent Effects of Oil Market Shocks

Nguyen, Bao - 2019

This paper investigates the oil market reaction to its fundamental shocks: supply, aggregate demand and oil-specific demand in different regimes characterised by high versus low uncertainty in the market. We do so by first proposing a novel oil uncertainty index that is measured by the...

Persistent link: https://www.econbiz.de/10012893587