What explains high unemployment? The aggregate demand channel
收藏数据链接：
官方服务：
资源简介：
A drop in aggregate demand driven by shocks to household balance sheets is responsible for a large fraction of the decline in U.S. employment from 2007 to 2009. The aggregate demand channel for unemployment predicts that employment losses in the non-tradable sector are higher in high leverage U.S.
提供机构：
美国国家经济研究局创建时间：
2012-02-01
