Stockhammer, Engelbert-Richard and Sturn, Simon. 2012. The impact of monetary policy on unemployment hysteresis. Applied Economics 44 (21): S. 2743-2756.
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Abstract
This article investigates the hypothesis that the extent to which hysteresis occurs in the aftermath of recessions depends on monetary policy reactions. The degree of hysteresis is explained econometrically by the extent of monetary easing during a recession and by standard variables for labour market institutions in a pooled cross country analysis using quarterly data. The sample includes 40 recessions in 19 Organization for Economic Co-operation and Development (OECD) countries for which the required data is available. The time period lasts for the period from 1980 to 2007. This article builds on Ball (1999) and extends the sample of countries, the time period under investigation and the set of control variables.
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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | Applied Economics |
Citation Index | SSCI |
WU Journalrating 2009 | A |
WU-Journal-Rating new | FIN-A, VW-D |
Language | English |
Title | The impact of monetary policy on unemployment hysteresis |
Volume | 44 |
Number | 21 |
Year | 2012 |
Page from | 2743 |
Page to | 2756 |
Reviewed? | Y |
URL | http://www.tandfonline.com/doi/abs/10.1080/00036846.2011.566199 |
DOI | http://dx.doi.org/10.1080/00036846.2011.566199 |
JEL | E24, E29, E50 |
Associations
- People
- Stockhammer, Engelbert-Richard (Former researcher)
- Sturn, Simon (Details)
- Organization
- Institute for Ecological Economics IN (Details)
- Research areas (Ă–STAT Classification 'Statistik Austria')
- 5300 Economics (Details)