التفاصيل البيبلوغرافية
| العنوان: |
Hysteresis in unemployment: A confidence channel. |
| المؤلفون: |
Plotnikov, Dmitry1 dplotnikov@imf.org |
| المصدر: |
International Journal of Economic Theory. Mar2019, Vol. 15 Issue 1, p109-127. 19p. |
| مصطلحات موضوعية: |
*HYSTERESIS (Economics), *UNEMPLOYMENT statistics, *RECESSIONS, *TECHNOLOGICAL innovations, *CONSUMER price indexes, *FINANCIAL management |
| مستخلص: |
This paper develops a general equilibrium rational expectations model with search and multiple equilibria where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, for either fundamental (productivity) or non‐fundamental (sunspot) reasons, the unemployment rate can increase for a potentially indefinite period. This makes the unemployment rate dynamics path dependent. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
Business Source Index |