全球智库信息集成服务系统(G2TT): Hysteresis in Unemployment: Evidence from OECD Estimates of the Natural Rate

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w29343
来源ID	Working Paper 29343
	Hysteresis in Unemployment: Evidence from OECD Estimates of the Natural Rate
	Laurence M. Ball; Joern Onken
发表日期	2021-10-11
出版年	2021
语种	英语
摘要	This paper studies the dynamics of unemployment (u) and its natural rate (u), with u measured by real-time estimates for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same direction, and therefore has permanent effects. For our baseline specification, a one percentage point deviation of u from u* for one year has a long-run effect of 0.16 points on both variables. When we allow asymmetry, we find, perhaps surprisingly, that decreases in u have larger long-run effects than increases in u.
主题	Macroeconomics ; Consumption and Investment
URL	https://www.nber.org/papers/w29343
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/587017
推荐引用方式 GB/T 7714	Laurence M. Ball,Joern Onken. Hysteresis in Unemployment: Evidence from OECD Estimates of the Natural Rate. 2021.