Unemployment Rate Hysteresis and the Great Recession: Exploring the Metropolitan Evidence

Unemployment in the Great Recession

This paper studies the responses of unemployment in Germany, the United States and Britain to the Great Recession of 2008-09 by making use of Beveridge curve analysis, and in the entire OECD with other techniques. It is shown that Britain suffered from recession but no structural problems; the United States suffered from structural unemployment during the recovery; Germany exhibited a much bett...

The Great Recession, unemployment and suicide

BACKGROUND How have suicide rates responded to the marked increase in unemployment spurred by the Great Recession? Our paper puts this issue into a wider perspective by assessing (1) whether the unemployment-suicide link is modified by the degree of unemployment protection, and (2) whether the effect on suicide of the present crisis differs from the effects of previous economic downturns. MET...

Employment Hysteresis from the Great Recession

This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-larger 2007-2009 local unemployment shock caused working-age individuals to be 0.4 percentage points less likely to be employed at all in 2015, evidently via labor force exit. These shocks also increase...

Unemployment and the US Housing Market during the Great Recession∗

This paper evaluates the role of unemployment scarring and fear thereof for the recent U.S. housing bust. I study a quantitative lifecycle model of the housing market, which features an income process that is consistent with the large and long-lasting impact of unemployment on future earnings documented in recent empirical work. The model features exogenous moving shocks consistent with survey ...

Evidence from the Great Recession