98 posts on "Unemployment"
September 2, 2014
From Our Archive: Reading Labor Market Slack
In her speech “Labor Market Dynamics and Monetary Policy” at the Kansas City Fed’s recent Jackson Hole symposium, Fed chairwoman Janet Yellen discussed economic puzzles challenging policymakers, including topics we’ve addressed on Liberty Street Economics.
August 13, 2014
Why Didn’t Inflation Collapse in the Great Recession?
GDP contracted 4 percent from 2008:Q2 to 2009:Q2, and the unemployment rate peaked at 10 percent in October 2010.
Posted at 7:00 am in DSGE, Fiscal Policy, Macroeconomics, Monetary Policy, Recession, Unemployment | Permalink | Comments (4)
August 11, 2014
Inflation in the Great Recession and New Keynesian Models
Since the financial crisis of 2007-08 and the Great Recession, many commentators have been baffled by the “missing deflation” in the face of a large and persistent amount of slack in the economy.
Posted at 7:00 am in DSGE, Financial Markets, Macroeconomics, Monetary Policy, Unemployment | Permalink | Comments (1)
July 14, 2014
High Unemployment and Disinflation in the Euro Area Periphery Countries
Thomas Klitgaard and Richard Peck
Economists often model inflation as dependent on inflation expectations and the level of economic slack, with changes in expectations or slack leading to changes in the inflation rate. The global slowdown and the subsequent sovereign debt crisis caused the greatest divergence in unemployment rates among euro area member countries since the monetary union was founded in 1999. The pronounced differences in economic performances of euro area countries since 2008 should have led to significant differences in price behavior. That turned out to be the case, with a strong correlation evident between disinflation and labor market deterioration in euro area countries
May 16, 2014
Just Released: The New York Fed Staff Forecast—May 2014
Today, the Federal Reserve Bank of New York (FRBNY) is hosting the spring meeting of its Economic Advisory Panel (EAP).
Posted at 10:30 am in Exports, Forecasting, Inflation, Macroeconomics, Unemployment | Permalink | Comments (1)
March 10, 2014
Just Released: Beyond the Unemployment Rate: Eight Different Faces of the Labor Market
This morning, the New York Fed released a new set of charts measuring various dimensions of the labor market.
February 19, 2014
Why Is the Job‑Finding Rate Still Low?
Fluctuations in unemployment are mostly driven by fluctuations in the job-finding prospects of unemployed workers—except at the onset of recessions, according to various research papers (see, for example, Shimer [2005, 2012] and Elsby, Hobijn, and Sahin [2010]).
February 12, 2014
The Long and Short of It: The Impact of Unemployment Duration on Compensation Growth
How tight is the labor market? The unemployment rate is down substantially from its October 2009 peak, but two-thirds of the decline is due to people dropping out of the labor force.
February 5, 2014
Comparing U.S. and Euro Area Unemployment Rates
Euro area growth has been stalled since 2010, mired in the sovereign debt crisis, while the United States has managed a slow but steady recovery following the Great Recession.
February 3, 2014
A Mis‑Leading Labor Market Indicator
The unemployment rate is a popular measure of the condition of the labor market.
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