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High Discounts and High Unemployment

Citations

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Cited by:

  1. Leibovici, Fernando & Waugh, Michael E., 2019. "International trade and intertemporal substitution," Journal of International Economics, Elsevier, vol. 117(C), pages 158-174.
  2. Yashiv, Eran, 2016. "Aggregate Hiring and the Value of Jobs Along the Business Cycle," CEPR Discussion Papers 11076, C.E.P.R. Discussion Papers.
  3. Adrien Bilal & Niklas Engbom & Simon Mongey & Giovanni L. Violante, 2022. "Firm and Worker Dynamics in a Frictional Labor Market," Econometrica, Econometric Society, vol. 90(4), pages 1425-1462, July.
  4. Rendahl, Pontus & Freund, Lukas B., 2020. "Unexpected Effects: Uncertainty, Unemployment, and Inflation," CEPR Discussion Papers 14690, C.E.P.R. Discussion Papers.
  5. Jesus Fernandez-Villaverde & Federico Mandelman & Francesco Zanetti & Yang Yu, 2018. "Search Complementarities, Aggregate Fluctuations and Fiscal Policy," 2018 Meeting Papers 386, Society for Economic Dynamics.
  6. Andrew Filardo & Marco Jacopo Lombardi & Marek Raczko, 2018. "Measuring financial cycle time," BIS Working Papers 755, Bank for International Settlements.
  7. Niklas Engbom, 2019. "Application Cycles," 2019 Meeting Papers 1170, Society for Economic Dynamics.
  8. Bjoern Bruegemann, 2023. "Invariance of Unemployment and Vacancy Dynamics with Respect to Diminishing Returns to Labor at the Firm Level," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 915-942, December.
  9. Toshihiko Mukoyama, 2019. "Heterogeneous Jobs and the Aggregate Labour Market," The Japanese Economic Review, Springer, vol. 70(1), pages 30-50, March.
  10. Alisdair McKay & Ricardo Reis, 2021. "Optimal Automatic Stabilizers [Consumption versus Expenditure]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(5), pages 2375-2406.
  11. Michael Waugh & Fernando Leibovici, 2010. "Cyclical Fluctuations in International Trade Volumes," 2010 Meeting Papers 1095, Society for Economic Dynamics.
  12. Molnárová, Zuzana & Reiter, Michael, 2022. "Technology, demand, and productivity: What an industry model tells us about business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 134(C).
  13. Patrick J. Kehoe & Virgiliu Midrigan & Elena Pastorino, 2018. "Evolution of Modern Business Cycle Models: Accounting for the Great Recession," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 141-166, Summer.
  14. Zvi Eckstein & Ofer Setty & David Weiss, 2019. "Financial Risk And Unemployment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(2), pages 475-516, May.
  15. Susanto Basu & Giacomo Candian & Ryan Chahrour & Rosen Valchev, 2021. "Risky Business Cycles," Boston College Working Papers in Economics 1029, Boston College Department of Economics.
  16. Jung, Kuk Mo & Pyun, Ju Hyun, 2023. "A long-run approach to money, unemployment, and equity prices," Economic Modelling, Elsevier, vol. 125(C).
  17. Saki Bigio & Eduardo Zilberman, 2020. "Speculation-Driven Business Cycles," Working Papers Central Bank of Chile 865, Central Bank of Chile.
  18. Leyva, Gustavo & Urrutia, Carlos, 2020. "Informality, labor regulation, and the business cycle," Journal of International Economics, Elsevier, vol. 126(C).
  19. Sushant Acharya & Shu Lin Wee, 2018. "Replacement hiring and the productivity-wage gap," Staff Reports 860, Federal Reserve Bank of New York.
  20. Boitier, Vincent & Lepetit, Antoine, 2018. "Reduced form wage equations in the credible bargaining model," Labour Economics, Elsevier, vol. 50(C), pages 92-96.
  21. John Stachurski & Junnan Zhang, 2019. "Dynamic Programming with State-Dependent Discounting," Papers 1908.08800, arXiv.org, revised Oct 2020.
  22. Ellington, Michael & Martin, Chris & Wang, Bingsong, 2021. "Search Frictions and Evolving Labour Market Dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
  23. Davis, Colin & Hashimoto, Ken-ichi, 2022. "Productivity growth, industry location patterns and labor market frictions," Regional Science and Urban Economics, Elsevier, vol. 97(C).
  24. Ghosh, Saurabh & Mazumder, Debojyoti, 2021. "Do NBFCs Propagate Real Shocks?," MPRA Paper 110596, University Library of Munich, Germany.
  25. Julien Albertini & Valentin Jouvanceau & Stéphane Moyen, 2022. "State-Contingent Forward Guidance," Working Papers 2205, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
  26. Hubar, Sylwia & Koulovatianos, Christos & Li, Jian, 2020. "The role of labor-income risk in household risk-taking," European Economic Review, Elsevier, vol. 129(C).
  27. Juan C. Córdoba & Anni T. Isojärvi & Haoran Li, 2023. "Endogenous Bargaining Power and Declining Labor Compensation Share," Finance and Economics Discussion Series 2023-030, Board of Governors of the Federal Reserve System (U.S.).
  28. Monacelli, Tommaso & Quadrini, Vincenzo & Trigari, Antonella, 2023. "Financial markets and unemployment," Journal of Financial Economics, Elsevier, vol. 147(3), pages 596-626.
  29. Krivenko, Pavel, 2023. "Asset prices in a labor search model with confidence shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
  30. Frederico Belo & Jun Li & Xiaoji Lin & Xiaofei Zhao, 2017. "Labor-Force Heterogeneity and Asset Prices: The Importance of Skilled Labor," The Review of Financial Studies, Society for Financial Studies, vol. 30(10), pages 3669-3709.
  31. Anisha Ghosh & George M. Constantinides, 2017. "What Information Drives Asset Prices?," NBER Working Papers 23689, National Bureau of Economic Research, Inc.
  32. Marco Guerrazzi, 2023. "Optimal growth with labor market frictions," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(4), pages 961-987, December.
  33. Eric T. Swanson, 2020. "Implications of Labor Market Frictions for Risk Aversion and Risk Premia," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(2), pages 194-240, April.
  34. Millard, Stephen & Varadi, Alexandra & Yashiv, Eran, 2018. "Shock transmission and the interaction of financial and hiring frictions," Bank of England working papers 769, Bank of England.
  35. Cynthia L. Doniger, 2019. "Do Greasy Wheels Curb Inequality?," Finance and Economics Discussion Series 2019-021, Board of Governors of the Federal Reserve System (U.S.).
  36. Juan M. Morelli, 2021. "Limited Participation in Equity Markets and Business Cycles," Finance and Economics Discussion Series 2021-026, Board of Governors of the Federal Reserve System (U.S.).
  37. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2024. "Unemployment risk, portfolio choice, and the racial wealth gap," CRC TR 224 Discussion Paper Series crctr224_2024_508, University of Bonn and University of Mannheim, Germany.
  38. Yashiv, Eran, 2015. "Countercyclical Recruiting Rates and the Value of Jobs," IZA Discussion Papers 9364, Institute of Labor Economics (IZA).
  39. Vuillemey, Guillaume & Wasmer, Etienne, 2020. "Frictional unemployment with stochastic bubbles," European Economic Review, Elsevier, vol. 122(C).
  40. Paolo Martellini & Guido Menzio & Ludo Visschers, 2021. "Revisiting the Hypothesis of High Discounts and High Unemployment," The Economic Journal, Royal Economic Society, vol. 131(637), pages 2203-2232.
  41. Giuseppe Moscarini & Fabien Postel-Vinay, 2016. "Wage Posting and Business Cycles: a Quantitative Exploration," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 19, pages 135-160, January.
  42. Jianjun Miao & Pengfei Wang & Tao Zha, 2020. "Discount Shock, Price–Rent Dynamics, And The Business Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(3), pages 1229-1252, August.
  43. Griffy, Benjamin & Rabinovich, Stanislav, 2023. "Worker selectivity and fiscal externalities from unemployment insurance," European Economic Review, Elsevier, vol. 156(C).
  44. Lukas Freund & Hanbaek Lee & Pontus Rendahl, 2023. "The Risk-Premium Channel of Uncertainty: Implications for Unemployment and Inflation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 117-137, December.
  45. Nucci, Francesco & Riggi, Marianna, 2018. "Labor force participation, wage rigidities, and inflation," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 274-292.
  46. Bae, Jaewan & Kang, Jangkoo, 2022. "The negative hiring rate premium on stock returns in the Korean stock market," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
  47. Ryan Chahrour & Sanjay K. Chugh & Tristan Potter, 2023. "Anticipated productivity and the labor market," Quantitative Economics, Econometric Society, vol. 14(3), pages 897-934, July.
  48. Pierre Cahuc & Stéphane Carcillo & Thomas Le Barbanchon, 2019. "The Effectiveness of Hiring Credits," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(2), pages 593-626.
  49. Melvyn G. Coles & Ali Moghaddasi Kelishomi, 2018. "Do Job Destruction Shocks Matter in the Theory of Unemployment?," American Economic Journal: Macroeconomics, American Economic Association, vol. 10(3), pages 118-136, July.
  50. Ghosh, Saurabh & Mazumder, Debojyoti, 2023. "Do NBFCs propagate real shocks?," Journal of Asian Economics, Elsevier, vol. 85(C).
  51. Yashiv, Eran, 2015. "Capital values and job values," LSE Research Online Documents on Economics 86323, London School of Economics and Political Science, LSE Library.
  52. Filiz Mızrak & Serhat Yüksel, 2019. "Significant Determiners of Greek Debt Crisis: A Comparative Analysis with Probit and MARS Approaches," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 8(3), pages 33-50, July.
  53. Bai, Hang & Zhang, Lu, 2022. "Searching for the equity premium," Journal of Financial Economics, Elsevier, vol. 143(2), pages 897-926.
  54. Felipe Alves, 2022. "Job Ladder and Business Cycles," Staff Working Papers 22-14, Bank of Canada.
  55. Noritaka Kudoh & Hiroaki Miyamoto, 2021. "General Equilibrium Effects and Labor Market Fluctuations," Working Papers SDES-2021-4, Kochi University of Technology, School of Economics and Management, revised May 2021.
  56. Ravenna, Federico & Walsh, Carl, 2020. "Worker heterogeneity, selection, and employment dynamics in the face of aggregate demand and pandemic shocks," CEPR Discussion Papers 15043, C.E.P.R. Discussion Papers.
  57. Patrick Kehoe & Elena Pastorino & Pierlauro Lopez & Virgiliu Midrigan, 2018. "Asset Prices and Unemployment Fluctuations," 2018 Meeting Papers 1119, Society for Economic Dynamics.
  58. Yannic Stucki & Jacqueline Thomet, 2018. "The effects of firing costs on employment and hours per employee," Diskussionsschriften dp1820, Universitaet Bern, Departement Volkswirtschaft.
  59. Andrew Phiri, 2017. "The Unemployment-Stock Market Relationship in South Africa: Evidence from Symmetric and Asymmetric Cointegration Models," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 15(3 (Fall)), pages 231-254.
  60. Eran Yashiv, 2016. "Capital Values and Job Values," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 19, pages 190-209, January.
  61. Enoch Hill & Kai Ding, 2016. "Cautious Hiring," 2016 Meeting Papers 291, Society for Economic Dynamics.
  62. Nadav Ben Zeev & Tomer Ifergane, 2022. "Firing Restrictions and Economic Resilience: Protect and Survive?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 93-124, January.
  63. Victoria Gregory & Guido Menzio & David G. Wiczer, 2021. "The Alpha Beta Gamma of the Labor Market," NBER Working Papers 28663, National Bureau of Economic Research, Inc.
  64. Patrick J. Kehoe & Virgiliu Midrigan & Elena Pastorino, 2019. "Debt Constraints and Employment," Journal of Political Economy, University of Chicago Press, vol. 127(4), pages 1926-1991.
  65. Goldberg, Jonathan, 2020. "Liquidity supply by broker-dealers and real activity," Journal of Financial Economics, Elsevier, vol. 136(3), pages 806-827.
  66. Boeri, Tito & Jimeno, Juan F., 2016. "Learning from the Great Divergence in unemployment in Europe during the crisis," Labour Economics, Elsevier, vol. 41(C), pages 32-46.
  67. Stotz, Olaf, 2018. "A labor news hedge portfolio and the cross-section of expected stock returns," Journal of Empirical Finance, Elsevier, vol. 48(C), pages 123-139.
  68. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2024. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," Opportunity and Inclusive Growth Institute Working Papers 086, Federal Reserve Bank of Minneapolis.
  69. Yulia Moiseeva, 2020. "The Interaction between Credit and Labor Market Frictions," Discussion Paper Series, School of Economics and Finance 202007, School of Economics and Finance, University of St Andrews.
  70. Boeri, Tito & Garibaldi, Pietro & Moen, Espen R., 2015. "Financial Frictions, Financial Shocks and Unemployment Volatility," CEPR Discussion Papers 10648, C.E.P.R. Discussion Papers.
  71. Alex Clymo & Filip Rozsypal, 2022. "Firm Cyclicality and Financial Frictions," Discussion Papers 2207, Centre for Macroeconomics (CFM).
  72. van Binsbergen, Jules H. & Koijen, Ralph S.J., 2017. "The term structure of returns: Facts and theory," Journal of Financial Economics, Elsevier, vol. 124(1), pages 1-21.
  73. repec:esx:essedp:766 is not listed on IDEAS
  74. Julien Albertini & Arthur Poirier, 2014. "Discount Factor Shocks and Labor Market Dynamics," SFB 649 Discussion Papers SFB649DP2014-033, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  75. Cynthia L. Doniger & J. David López-Salido, 2017. "Hysteresis via Endogenous Rigidity in Wages and Participation," Finance and Economics Discussion Series 2017-044, Board of Governors of the Federal Reserve System (U.S.).
  76. Weimin Liu & Di Luo & Seyoung Park & Huainan Zhao, 2022. "The cross‐sectional return predictability of employment growth: A liquidity risk explanation," The Financial Review, Eastern Finance Association, vol. 57(1), pages 155-178, February.
  77. Sushant Acharya & Shu Lin Wee, 2018. "Replacement Hiring," 2018 Meeting Papers 758, Society for Economic Dynamics.
  78. Atanasov, Victoria, 2021. "Unemployment and aggregate stock returns," Journal of Banking & Finance, Elsevier, vol. 129(C).
  79. Simon Jäger & Benjamin Schoefer & Samuel Young & Josef Zweimüller, 2020. "Wages and the Value of Nonemployment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 1905-1963.
  80. Mehrotra, Neil & Sergeyev, Dmitriy, 2021. "Financial shocks, firm credit and the Great Recession," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 296-315.
  81. Bettoni, Luis G. & Santos, Marcelo R., 2022. "Public sector employment and aggregate fluctuations," Journal of Macroeconomics, Elsevier, vol. 72(C).
  82. Lukas Freund & Hanbaek Lee & Pontus Rendahl, 2023. "The Risk-Premium Channel of Uncertainty: Implications for Unemployment and Inflation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 117-137, December.
  83. Jean‐Noël Barrot & Ramana Nanda, 2020. "The Employment Effects of Faster Payment: Evidence from the Federal Quickpay Reform," Journal of Finance, American Finance Association, vol. 75(6), pages 3139-3173, December.
  84. Nadav Ben Zeev & Tomer Ifergane, 2019. "Employment Protection Legislation and Economic Resilience: Protect and Survive?," Working Papers 1910, Ben-Gurion University of the Negev, Department of Economics.
  85. Sebastian Di Tella & Robert E. Hall, 2020. "Risk Premium Shocks Can Create Inefficient Recessions," NBER Working Papers 26721, National Bureau of Economic Research, Inc.
  86. Pierre Cahuc & Stéphane Carcillo & Thomas Le Barbanchon, 2017. "The Effectiveness of Hiring Credits," SciencePo Working papers Main hal-03393157, HAL.
  87. Indrajit Mitra & Taeuk Seo & Yu Xu, 2021. "High Discounts and Low Fundamental Surplus: An Equivalence Result for Unemployment Fluctuations," FRB Atlanta Working Paper 2021-22, Federal Reserve Bank of Atlanta.
  88. Piero Ferri & Annalisa Cristini & Anna Maria Variato, 2019. "Growth, unemployment and heterogeneity," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(3), pages 573-593, September.
  89. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2023. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," ECONtribute Discussion Papers Series 265, University of Bonn and University of Cologne, Germany.
  90. Christian Heyerdahl-Larsen & Philipp Illeditsch, 2018. "Demand Disagreement," 2018 Meeting Papers 607, Society for Economic Dynamics.
  91. Clymo, Alex, 2020. "Discounts, rationing, and unemployment," European Economic Review, Elsevier, vol. 128(C).
  92. Cardullo, Gabriele & Guerci, Eric, 2019. "Interpreting the Beveridge curve. An agent-based approach," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 84-100.
  93. Hian Teck Hoon & Margarita Katsimi & Gylfi Zoega, 2023. "Investment and the long swings of unemployment," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(3), pages 611-632, July.
  94. Kudoh, Noritaka & Miyamoto, Hiroaki, 2023. "Do general equilibrium effects matter for labor market dynamics?," Economic Modelling, Elsevier, vol. 119(C).
  95. Armando Näf & Yannic Stucki & Jacqueline Thomet, 2022. "The Effects of Firing Costs on Labour Market Dynamics," Economica, London School of Economics and Political Science, vol. 89(354), pages 461-488, April.
  96. Ross Doppelt, 2019. "Skill Flows: A Theory of Human Capital and Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 84-122, January.
  97. Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
  98. Pan, Wei-Fong, 2018. "Does the stock market really cause unemployment? A cross-country analysis," The North American Journal of Economics and Finance, Elsevier, vol. 44(C), pages 34-43.
  99. Huiqin Li & Shuai Guan & Yongfu Liu, 2022. "Analysis on the Steady Growth Effect of China’s Fiscal Policy from a Dynamic Perspective," Sustainability, MDPI, vol. 14(13), pages 1-15, June.
  100. Guerrieri, V. & Uhlig, H., 2016. "Housing and Credit Markets," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1427-1496, Elsevier.
  101. Pierre Cahuc & Stéphane Carcillo & Thomas Le Barbanchon, 2017. "The Effectiveness of Hiring Credits," SciencePo Working papers hal-03393157, HAL.
  102. Walsh, Carl E, 2014. "Multiple Objectives and Central Bank Tradeoffs Under Flexible Inflation Targeting," Santa Cruz Department of Economics, Working Paper Series qt3pq021t5, Department of Economics, UC Santa Cruz.
  103. Giuseppe Moscarini & Fabien Postel-Vinay, 2016. "Wage Posting and Business Cycles: a Quantitative Exploration," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 19, pages 135-160, January.
  104. Kothari, Pratik & O’Doherty, Michael S., 2023. "Job postings and aggregate stock returns," Journal of Financial Markets, Elsevier, vol. 64(C).
  105. repec:hal:spmain:info:hdl:2441/3dn0o0jvtp972r5lmr1fd29k5c is not listed on IDEAS
  106. Tyler Muir, 2017. "Financial Crises and Risk Premia," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(2), pages 765-809.
  107. Anmol Bhandari & Jaroslav Borovicka & Paul Ho, 2019. "Survey Data and Subjective Beliefs in Business Cycle Models," Working Paper 19-14, Federal Reserve Bank of Richmond.
  108. Eran Yashiv, 2016. "Capital Values and Job Values," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 19, pages 190-209, January.
  109. Mete Kilic & Jessica A. Wachter, 2015. "Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility," NBER Working Papers 21575, National Bureau of Economic Research, Inc.
  110. repec:hal:spmain:info:hdl:2441/5taek6gt3k8m0r69e1j1ombcc5 is not listed on IDEAS
  111. Cakici, Nusret & Zaremba, Adam, 2023. "Misery on Main Street, victory on Wall Street: Economic discomfort and the cross-section of global stock returns," Journal of Banking & Finance, Elsevier, vol. 149(C).
  112. Martin, Chris & Wang, Bingsong, 2018. "Unemployment Volatility in a Behavioural Search Model," The Warwick Economics Research Paper Series (TWERPS) 1179, University of Warwick, Department of Economics.
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