Quotation Stockhammer, Engelbert-Richard and Sturn, Simon. 2012. The impact of monetary policy on unemployment hysteresis. Applied Economics 44 (21): S. 2743-2756.




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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Publication's profile

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


Stockhammer, Engelbert-Richard (Former researcher)
Sturn, Simon (Details)
Institute for Ecological Economics IN (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
5300 Economics (Details)
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