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
Resource Information
The item Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item Has the great recession raised U.S. structural unemployment?, Marcello Estevão and Evridiki Tsounta represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.
This item is available to borrow from 1 library branch.
- 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
- Language
- eng
- Extent
- 1 online resource (47 pages)
- 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
- Isbn
- 9781283563512
- 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
- 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
- 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
- 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
- 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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