Coverart for item
The Resource Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta

Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta

Label
Has the great recession raised U.S. structural unemployment?
Title
Has the great recession raised U.S. structural unemployment?
Statement of responsibility
Marcello Estevão and Evridiki Tsounta
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
The recent crisis has had differential effects across U.S. states and industries causing a wide geographic dispersion in skill mismatches and housing market performance. We document these facts and, using data from the 50 states plus D.C from 1991 to 2008, we present econometric evidence that supports that changes in state-level unemployment rates are linked to skill mismatches and housing market performance even after controlling for cyclical effects. This result suggests some causality going from mismatches and housing conditions to unemployment rates. The numerical estimates imply that the structural unemployment rate in 2010 was about 1 percentage points higher than before the onset of the housing market meltdown at end-2006. Reversing this increase may require targeted active labor market policies and measures to expedite the adjustment in housing markets, as our results suggest weak housing market conditions interact negatively with skill mismatches to produce higher unemployment rates in the United States
Member of
Cataloging source
DJB
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Estevão, Marcello M
Government publication
international or intergovernmental publication
Illustrations
  • illustrations
  • maps
Index
no index present
LC call number
  • HD5708.47.U6
  • HG3881.5.I58
LC item number
  • E88 2011 ONLINE
  • W67 No. 11/105 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Tsounta, Evridiki
  • International Monetary Fund
Series statement
IMF Working Paper
Series volume
WP/11/105
http://library.link/vocab/subjectName
  • Global Financial Crisis (2008-2009)
  • Global Financial Crisis, 2008-2009
  • Structural unemployment
  • Structural unemployment
  • United States
Label
Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta
Instantiates
Publication
Copyright
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. A Dismal Labor Market Situation; 1. Unemployment Developments; 2. Unemployment and Employment by Educational Attainment; III. Are Skill Mismatches on the Rise?; 3. Skill Mismatch Index by State, 1990-2010; 4. Skill Mismatch Index Level by State, 2010; 5. Change in Skill Mismatch Index, 2007-2010; 6. Labor and Housing Market Dispersion; IV. Housing Woes across U.S. States; 7. Decline in FHFA House Prices Since Peak; 8. Percent Change in Case-Shiller House Price Index Since Peak; 9. Increase in Foreclosure Rates, 2005-2010
  • 10. Composite Effect of the Crisis Since Onset of the Recession11. Geographic Mismatches; V. Is Structural Unemployment on the Rise?; 1. Okun Law Estimates with Alternative Measures of State-Level GDP; 2. Explaining State-Level Unemployment Rates -- Using Foreclosure Rates as a Proxy for State Housing Market Conditions; 3. Explaining State-Level Unemployment Rates -- Using Housing Prices as a Proxy for State Housing Market Conditions; 4. Explaining State-Level Unemployment Rates Using Housing Prices as a Proxy for State Housing Market Conditions Alternative Measure of Skill Mismatch Shocks
  • 5. Explaining State-Level Unemployment Rates Using Foreclosure Rates as Proxy for State Housing Market Conditions Alternative Measure of Skill Mismatch Shocks12. Estimated Equilibrium Unemployment Rate at End-2010 by State; VI. Is Policy Intervention Warranted?; VII. Conclusions; A. Data Description; B. Calculating the Skills Mismatch Index (SMI); References; Footnotes
Control code
746758970
Extent
1 online resource (47 pages)
Form of item
online
Isbn
9781283563512
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
color illustrations, maps
Specific material designation
remote
System control number
(OCoLC)746758970
Label
Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta
Publication
Copyright
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. A Dismal Labor Market Situation; 1. Unemployment Developments; 2. Unemployment and Employment by Educational Attainment; III. Are Skill Mismatches on the Rise?; 3. Skill Mismatch Index by State, 1990-2010; 4. Skill Mismatch Index Level by State, 2010; 5. Change in Skill Mismatch Index, 2007-2010; 6. Labor and Housing Market Dispersion; IV. Housing Woes across U.S. States; 7. Decline in FHFA House Prices Since Peak; 8. Percent Change in Case-Shiller House Price Index Since Peak; 9. Increase in Foreclosure Rates, 2005-2010
  • 10. Composite Effect of the Crisis Since Onset of the Recession11. Geographic Mismatches; V. Is Structural Unemployment on the Rise?; 1. Okun Law Estimates with Alternative Measures of State-Level GDP; 2. Explaining State-Level Unemployment Rates -- Using Foreclosure Rates as a Proxy for State Housing Market Conditions; 3. Explaining State-Level Unemployment Rates -- Using Housing Prices as a Proxy for State Housing Market Conditions; 4. Explaining State-Level Unemployment Rates Using Housing Prices as a Proxy for State Housing Market Conditions Alternative Measure of Skill Mismatch Shocks
  • 5. Explaining State-Level Unemployment Rates Using Foreclosure Rates as Proxy for State Housing Market Conditions Alternative Measure of Skill Mismatch Shocks12. Estimated Equilibrium Unemployment Rate at End-2010 by State; VI. Is Policy Intervention Warranted?; VII. Conclusions; A. Data Description; B. Calculating the Skills Mismatch Index (SMI); References; Footnotes
Control code
746758970
Extent
1 online resource (47 pages)
Form of item
online
Isbn
9781283563512
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
color illustrations, maps
Specific material designation
remote
System control number
(OCoLC)746758970

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