IDEAS home Printed from https://ideas.repec.org/p/pst/wpaper/147.html

The Boom and the Depression: A Note on the Identification of Aggregate Supply Shocks

Author

Listed:
  • Pekka Sauramo

Abstract

This short paper is a straightforward continuation of Sauramo (1998). The aim of that paper was to analyse the boom of the late eighties and the depression of the early nineties by estimating structural VAR models which were based on the utilization of the traditional aggregate demand aggregate supply framework. These models typically belong to the class of IS-LM models which have been augmented with a Phillips curve.

Suggested Citation

  • Pekka Sauramo, 1998. "The Boom and the Depression: A Note on the Identification of Aggregate Supply Shocks," Working Papers 147, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.
    • Handle: RePEc:pst:wpaper:147
    as

    Download full text from publisher

    File URL: https://labore.fi/wp-content/uploads/1998/01/Tutkimusselosteita-147.pdf
    File Function: First version, 1998
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dolado, Juan J. & Jimeno, Juan F., 1997. "The causes of Spanish unemployment: A structural VAR approach," European Economic Review, Elsevier, vol. 41(7), pages 1281-1307, July.
    2. Dolado, Juan J & Jimeno, Juan Francisco & Castillo, Sonsoles, 1998. "A Tale of Two Neighbour Economies: Labour Market Dynamics in Spain and Portugal," CEPR Discussion Papers 1954, Centre for Economic Policy Research.
    3. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-673, September.
    4. Castillo, Sonsoles & Dolado, Juan José & Jimeno, Juan F., 1998. "A tale of two neighbour economies: labour market dynamics in Portugal and Spain," UC3M Working papers. Economics 4154, Universidad Carlos III de Madrid. Departamento de Economía.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pekka Sauramo, 1999. "Jobs and Growth in Finland: Industry-level Evidence from the 1990s," Working Papers 160, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.
    2. Petri Böckerman, 1999. "The Service Sector in Finland: A Nordic Lilliputian," Working Papers 162, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.
    3. Merja Kauhanen & Hannu Tervo, 2002. "Who Moves to Depressed Regions? An Analysis of Migration Streams in Finland in the 1990s," International Regional Science Review, , vol. 25(2), pages 200-218, April.
    4. Pekka Sauramo, 1999. "Jobless Growth in Finland? Evidence from the 1990s," Working Papers 159, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.
    5. Petri Böckerman, 1999. "A Selective Survey to the Literature on Job Creation and Destruction," Working Papers 163, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Echavarría-Soto, Juan José & López, Enrique & Ocampo, Sergio & Rodríguez-Niño, Norberto, 2012. "Choques, instituciones laborales y desempleo en Colombia," Chapters, in: Arango-Thomas, Luis Eduardo & Hamann-Salcedo, Franz Alonso (ed.), El mercado de trabajo en Colombia: hechos, tendencias e instituciones, chapter 18, pages 753-794, Banco de la Republica de Colombia.
    2. Blangiewicz, Maria & Charemza, Wojciech W., 2001. "East European economic reform: Some simulations on a structural VAR model," Journal of Policy Modeling, Elsevier, vol. 23(2), pages 147-160, February.
    3. Maciej Bukowski & Grzegorz Koloch & Piotr Lewandowski, 2013. "Shocks and rigidities as determinants of CEE labour markets’ performance," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 21(3), pages 553-581, July.
    4. Luis Eduardo Arango & Ana María Iregui & Luis Fernando Melo, 2003. "Recent Behavior of Output, Unemployment, Wages and Prices in Colombia:What went Wrong?," Borradores de Economia 249, Banco de la Republica de Colombia.
    5. Holmlund, Bertil & Alexius, Annika, 2008. "Monetary Policy and Swedish Unemployment Fluctuations," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 2, pages 1-25.
    6. Algan, Yann, 2002. "How well does the aggregate demand-aggregate supply framework explain unemployment fluctuations? A France-United States comparison," Economic Modelling, Elsevier, vol. 19(1), pages 153-177, January.
    7. Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2008. "Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy," Journal of Policy Modeling, Elsevier, vol. 30(2), pages 279-300.
    8. Addison John T. & Teixeira Paulino, 2001. "Employment Adjustment in a “Sclerotic” Labour Market: Comparing Portugal with Germany, Spain, and the United Kingdom / Beschäftigungsanpassung in einem „sklerotischen“ Arbeitsmarkt: Ein Vergleich von Portugal mit Deutschland, Spanien und Großbritanni," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 221(4), pages 353-370, August.
    9. Luis Eduardo Arango & Ana María IREGUI & Luis F. MELO, 2006. "Recent macroeconomic performance in colombia: what went wrong?," Revista de Economía del Rosario, Universidad del Rosario.
    10. Elías Melchor-Ferrer, 2020. "Determinants of labour productivity growth in Spanish and Portuguese regions: a spatial shift-share approach," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(1), pages 45-65, August.
    11. repec:ksp:journ3:v:1:y:2015:i:4:p:256-274 is not listed on IDEAS
    12. Annika Alexius & Mikael Carlsson, 2005. "Measures of Technology and the Business Cycle," The Review of Economics and Statistics, MIT Press, vol. 87(2), pages 299-307, May.
    13. Ángel Estrada & Ignacio Hernando & J. David López-Salido, 2000. "Measuring the NAIRU in the Spanish Economy," Working Papers 0009, Banco de España.
    14. Salvador Barrios & Juan José de Lucio, 2003. "Economic Integration and Regional Business Cycles: Evidence from the Iberian Regions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(4), pages 497-515, September.
    15. Balakrishnan, Ravi & Michelacci, Claudio, 2001. "Unemployment dynamics across OECD countries," European Economic Review, Elsevier, vol. 45(1), pages 135-165, January.
    16. Constantina Kottaridi & Mendez-Carbajo Diego & D. Thomakos Dimitrios, 2009. "Inflation Dynamics and the Cross-Sectional Distribution of Prices in the E.U. Periphery," Springer Books, in: Takashi Kamihigashi & Laixun Zhao (ed.), International Trade and Economic Dynamics, pages 449-475, Springer.
    17. Elías Albagli I. & Pablo García S. & Jorge Restrepo L., 2004. "Evaluating Labor Market Flexibility in Chile from an International Perspective," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 7(2), pages 27-46, August.
    18. Juan J. Dolado & J. David López-Salido & Juan L. Vega, 1997. "Spanish Unemployment and Inflation Persistence: Are There Phillips Trade-Offs?," Working Papers 9712, Banco de España.
    19. Francesco Furlanetto & Antoine Lepetit & Ørjan Robstad & Juan Rubio-Ramírez & Pål Ulvedal, 2025. "Estimating Hysteresis Effects," American Economic Journal: Macroeconomics, American Economic Association, vol. 17(1), pages 35-70, January.
    20. Tafirenyika Sunde & Olusegun A. Akanbi, 2016. "Sources of unemployment in Namibia: an application of the structural VAR approach," International Journal of Sustainable Economy, Inderscience Enterprises Ltd, vol. 8(2), pages 125-143.
    21. Alexius, Annika & Carlsson, Mikael, 2001. "Measures of Technology and the Business Cycle: Evidence from Sweden and the U.S," Working Paper Series 174, Trade Union Institute for Economic Research.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pst:wpaper:147. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aila Mustonen (email available below). General contact details of provider: https://edirc.repec.org/data/laborfi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.