Revisiting the Hypothesis of High Discounts and High Unemployment
收藏NBER2020-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27428
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资源简介：
We revisit the hypothesis that cyclical fluctuations in unemployment are caused by shocks to the discount rate. We use a rich search-theoretic model of the labor market in which the UE, EU and EE rates are all endogenous. Analytically, we show that an increase in the discount rate lowers the UE rate
提供机构：
美国国家经济研究局
创建时间：
2020-06-01
