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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. Rendahl, Pontus & Freund, Lukas B., 2020. "Unexpected Effects: Uncertainty, Unemployment, and Inflation," CEPR Discussion Papers 14690, C.E.P.R. Discussion Papers.
  3. Michael Waugh & Fernando Leibovici, 2010. "Cyclical Fluctuations in International Trade Volumes," 2010 Meeting Papers 1095, Society for Economic Dynamics.
  4. 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).
  5. 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.
  6. Saki Bigio & Eduardo Zilberman, 2020. "Speculation-Driven Business Cycles," Working Papers Central Bank of Chile 865, Central Bank of Chile.
  7. Leyva, Gustavo & Urrutia, Carlos, 2020. "Informality, labor regulation, and the business cycle," Journal of International Economics, Elsevier, vol. 126(C).
  8. Sushant Acharya & Shu Lin Wee, 2018. "Replacement hiring and the productivity-wage gap," Staff Reports 860, Federal Reserve Bank of New York.
  9. Boitier, Vincent & Lepetit, Antoine, 2018. "Reduced form wage equations in the credible bargaining model," Labour Economics, Elsevier, vol. 50(C), pages 92-96.
  10. 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.
  11. Yashiv, Eran, 2015. "Countercyclical Recruiting Rates and the Value of Jobs," IZA Discussion Papers 9364, Institute of Labor Economics (IZA).
  12. Vuillemey, Guillaume & Wasmer, Etienne, 2020. "Frictional unemployment with stochastic bubbles," European Economic Review, Elsevier, vol. 122(C).
  13. 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.
  14. 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.
  15. Toshihiko Mukoyama, 2019. "Heterogeneous Jobs and the Aggregate Labour Market," The Japanese Economic Review, Springer, vol. 70(1), pages 30-50, March.
  16. 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.
  17. Ghosh, Saurabh & Mazumder, Debojyoti, 2023. "Do NBFCs propagate real shocks?," Journal of Asian Economics, Elsevier, vol. 85(C).
  18. Bai, Hang & Zhang, Lu, 2022. "Searching for the equity premium," Journal of Financial Economics, Elsevier, vol. 143(2), pages 897-926.
  19. Felipe Alves, 2022. "Job Ladder and Business Cycles," Staff Working Papers 22-14, Bank of Canada.
  20. 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.
  21. 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.
  22. 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.
  23. 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.
  24. Nucci, Francesco & Riggi, Marianna, 2018. "Labor force participation, wage rigidities, and inflation," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 274-292.
  25. 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.
  26. 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.
  27. repec:esx:essedp:766 is not listed on IDEAS
  28. Patrick Kehoe & Elena Pastorino & Pierlauro Lopez & Virgiliu Midrigan, 2018. "Asset Prices and Unemployment Fluctuations," 2018 Meeting Papers 1119, Society for Economic Dynamics.
  29. Atanasov, Victoria, 2021. "Unemployment and aggregate stock returns," Journal of Banking & Finance, Elsevier, vol. 129(C).
  30. 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.
  31. 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.
  32. 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.
  33. 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.
  34. Kudoh, Noritaka & Miyamoto, Hiroaki, 2023. "Do general equilibrium effects matter for labor market dynamics?," Economic Modelling, Elsevier, vol. 119(C).
  35. 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.
  36. 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.
  37. 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.
  38. 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.
  39. Kothari, Pratik & O’Doherty, Michael S., 2023. "Job postings and aggregate stock returns," Journal of Financial Markets, Elsevier, vol. 64(C).
  40. repec:hal:spmain:info:hdl:2441/3dn0o0jvtp972r5lmr1fd29k5c is not listed on IDEAS
  41. 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.
  42. 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.
  43. Andrew Filardo & Marco Jacopo Lombardi & Marek Raczko, 2018. "Measuring financial cycle time," BIS Working Papers 755, Bank for International Settlements.
  44. Niklas Engbom, 2019. "Application Cycles," 2019 Meeting Papers 1170, Society for Economic Dynamics.
  45. 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.
  46. 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.
  47. Jung, Kuk Mo & Pyun, Ju Hyun, 2023. "A long-run approach to money, unemployment, and equity prices," Economic Modelling, Elsevier, vol. 125(C).
  48. Ellington, Michael & Martin, Chris & Wang, Bingsong, 2021. "Search Frictions and Evolving Labour Market Dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
  49. Monacelli, Tommaso & Quadrini, Vincenzo & Trigari, Antonella, 2023. "Financial markets and unemployment," Journal of Financial Economics, Elsevier, vol. 147(3), pages 596-626.
  50. Cynthia Doniger, 2019. "Do Greasy Wheels Curb Inequality?," 2019 Meeting Papers 1163, Society for Economic Dynamics.
  51. Albertini, Julien & Poirier, Arthur, 2014. "Discount factor shocks and labor market dynamics," SFB 649 Discussion Papers 2014-033, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
  52. 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.
  53. 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.
  54. Yashiv, Eran, 2015. "Capital values and job values," LSE Research Online Documents on Economics 86323, London School of Economics and Political Science, LSE Library.
  55. 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.
  56. Yannic Stucki & Jacqueline Thomet, 2018. "The effects of firing costs on employment and hours per employee," Diskussionsschriften dp1820, Universitaet Bern, Departement Volkswirtschaft.
  57. Gregory, Victoria & Menzio, Guido & Wiczer, David, 2025. "The alpha beta gamma of the labor market," Journal of Monetary Economics, Elsevier, vol. 150(C).
  58. Goldberg, Jonathan, 2020. "Liquidity supply by broker-dealers and real activity," Journal of Financial Economics, Elsevier, vol. 136(3), pages 806-827.
  59. 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.
  60. Hubar, Sylwia & Koulovatianos, Christos & Li, Jian, 2020. "The role of labor-income risk in household risk-taking," European Economic Review, Elsevier, vol. 129(C).
  61. Susanto Basu & Giacomo Candian & Ryan Chahrour & Rosen Valchev, 2021. "Risky Business Cycles," NBER Working Papers 28693, National Bureau of Economic Research, Inc.
  62. 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.
  63. 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.
  64. repec:hum:wpaper:sfb649dp2014-033 is not listed on IDEAS
  65. 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.
  66. repec:spo:wpmain:info:hdl:2441/5taek6gt3k8m0r69e1j1ombcc5 is not listed on IDEAS
  67. 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.
  68. 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.
  69. Sebastian Di Tella & Robert E. Hall, 2020. "Risk Premium Shocks Can Create Inefficient Recessions," NBER Working Papers 26721, National Bureau of Economic Research, Inc.
  70. Clymo, Alex, 2020. "Discounts, rationing, and unemployment," European Economic Review, Elsevier, vol. 128(C).
  71. Tan, Weiqiang & Xie, Chenxin & Ye, Dezhu, 2024. "Do urban educational resources affect corporate labor costs?," Economic Modelling, Elsevier, vol. 130(C).
  72. Eran Yashiv, 2016. "Aggregate Hiring and the Value of Jobs Along the Business Cycle," Discussion Papers 1637, Centre for Macroeconomics (CFM).
  73. 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.
  74. 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.
  75. repec:hal:spmain:info:hdl:2441/5taek6gt3k8m0r69e1j1ombcc5 is not listed on IDEAS
  76. 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.
  77. Ghosh, Saurabh & Mazumder, Debojyoti, 2021. "Do NBFCs Propagate Real Shocks?," MPRA Paper 110596, University Library of Munich, Germany.
  78. 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.).
  79. 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.
  80. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2023. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," Working Papers 332, Princeton University, Department of Economics, Center for Economic Policy Studies..
  81. 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).
  82. repec:spo:wpmain:info:hdl:2441/3dn0o0jvtp972r5lmr1fd29k5c is not listed on IDEAS
  83. 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.
  84. He, Chao & Fan, Xiaodong, 2024. "The paradox of search intensity," Journal of Economic Theory, Elsevier, vol. 221(C).
  85. Davis, Colin & Hashimoto, Ken-ichi, 2022. "Productivity growth, industry location patterns and labor market frictions," Regional Science and Urban Economics, Elsevier, vol. 97(C).
  86. 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.
  87. Alex Clymo & Filip Rozsypal, 2022. "Firm Cyclicality and Financial Frictions," Discussion Papers 2207, Centre for Macroeconomics (CFM).
  88. Indrajit Mitra & Taeuk Seo & Yu Xu, 2024. "High Discounts and Low Fundamental Surplus: An Equivalence Result for Unemployment Fluctuations," Management Science, INFORMS, vol. 70(6), pages 4051-4068, June.
  89. Christian Heyerdahl-Larsen & Philipp Illeditsch, 2018. "Demand Disagreement," 2018 Meeting Papers 607, Society for Economic Dynamics.
  90. 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.
  91. 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.
  92. Pierre Cahuc & Stéphane Carcillo & Thomas Le Barbanchon, 2017. "The Effectiveness of Hiring Credits," SciencePo Working papers hal-03393157, HAL.
  93. Anisha Ghosh & George M Constantinides, 2021. "What Information Drives Asset Prices? [Information quality and long-run risk: Asset pricing implications]," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 11(4), pages 837-885.
  94. 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).
  95. John Stachurski & Junnan Zhang, 2019. "Dynamic Programming with State-Dependent Discounting," Papers 1908.08800, arXiv.org, revised Oct 2020.
  96. Krivenko, Pavel, 2023. "Asset prices in a labor search model with confidence shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
  97. Kandoussi, Malak & Langot, François, 2025. "Modeling and evaluating the heterogeneous impacts of the COVID-19 on US unemployment," Economic Modelling, Elsevier, vol. 143(C).
  98. 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.
  99. 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.).
  100. Griffy, Benjamin & Rabinovich, Stanislav, 2023. "Worker selectivity and fiscal externalities from unemployment insurance," European Economic Review, Elsevier, vol. 156(C).
  101. 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.
  102. Enoch Hill & Kai Ding, 2016. "Cautious Hiring," 2016 Meeting Papers 291, Society for Economic Dynamics.
  103. 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.
  104. 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.).
  105. Sushant Acharya & Shu Lin Wee, 2018. "Replacement Hiring," 2018 Meeting Papers 758, Society for Economic Dynamics.
  106. Mehrotra, Neil & Sergeyev, Dmitriy, 2021. "Financial shocks, firm credit and the Great Recession," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 296-315.
  107. Bettoni, Luis G. & Santos, Marcelo R., 2022. "Public sector employment and aggregate fluctuations," Journal of Macroeconomics, Elsevier, vol. 72(C).
  108. 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.
  109. 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.
  110. Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
  111. 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.
  112. 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.
  113. Miescu, Mirela & Mumtaz, Haroon & Theodoridis, Konstantinos, 2024. "Non-linear Dynamics of Oil Supply News Shocks," Cardiff Economics Working Papers E2024/18, Cardiff University, Cardiff Business School, Economics Section.
  114. 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.
  115. 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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