Involuntary Unemployment and the Business Cycle

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl

doi:10.2139/ssrn.1680648

Cited by 18 publications

(10 citation statements)

References 70 publications

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“…Empirical evidence appears to be consistent with the notion that unemployment is in practice more of a burden than a blessing (Christiano et al 2010). The current economic climate makes many people wary of spending money.…”

Section: From Unemployment To Self-employmentsupporting

confidence: 67%

“…Also, there is substantial literature, which purports to find evidence that insurance against labour market outcomes is imperfect. Christiano (2010) in the studies has predicted that high unemployment in recessions reflects the pro-cyclicality of effort in job search. There is some evidence that supports this point of view.…”

Section: From Unemployment To Self-employmentmentioning

confidence: 99%

“…These are people who are available to work and have looked for work in the past 12 months, but are not currently looking because they believe no jobs are available. The number of discouraged workers jumped by 70 percent in 2009 (Christiano et al 2010). To the extent that workers share the sentiments of discouraged workers more generally, a jump in the number of discouraged workers could be a signal of a general decline in job search intensity in recessions.…”

Section: From Unemployment To Self-employmentmentioning

confidence: 99%

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Counselling for Self-Employment: The Application of Decision Support System

Smaliukienė

Bekešienė

Dudzevičiūtė

2012

Business: Theory and Practice

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Abstract. The article considers the provision of decision support opportunities for unemployed people who are seeking for selfemployment and opening a new business. The purpose of this paper is to consider the application of decision support system (DSS) for e-counselling of the unemployed, specially focusing on self-employment solutions. The development of DSS is tackling main social challenges of the long-term unemployed: it conveys an experience from previous employment; provides new business opportunities, which are highly related to person's hobbies; and it connects people by developing complementary groups of same interests and same positive attitudes towards entrepreneurship. From a technical perspective we suggest that it is advisable to place a workflow engine at the core of the Internet based e-decision making system. This will let us generate and manage personalized and adaptable individual recommendation access. The access flow algorithm of DSS consists of three interconnected blocs: the first bloc is constructed for the self-containment as process logic and analysis of consumer objectives; the second one analyses person's ability for entrepreneurship, it also evaluates individual's overall motivation to start his own business; and the third bloc provides with potential complementary business partners or business start-up.Keywords: self-employment, unemployment, decision support system, recession.JEL Classification: C63,C69, E0, E24, J4. Straipsnyje nagrinėjamos sprendimų paramos sistemos (SPS) taikymo galimybės asmenims, ieškantiems darbo ir norintiems pradėti savo verslą. Šio straipsnio tikslas -išnagrinėti elektroninės SPS vaidmenį įsidarbinimo problemoms spręsti. SPS įdiegimas leistų kaupti informaciją apie profesinę žmogaus patirtį, suteiktų informacijos apie naujas veiklas, susijusias su asmens pomėgiais, sudarytų galimybes formuoti asmenų grupes pagal tam tikrus požymius, tokius kaip interesai, požiūris į verslininkystę. Techniniu aspektu sprendimų paramos sistemos algoritmą sudaro trys sujungti blokai: pirmasis skirtas savo tikslų analizei, antrasis įvertina asmens verslumą, motyvaciją įsidarbinti ar pradėti savo verslą, trečiasis suteikia papildomos informacijos apie potencialius verslo partnerius ir apie verslo pradžią. ĮSIDARBINIMO PROBLEMOS SPRENDIMAS: SPRENDIMŲ PARAMOS SISTEMOS TAIKYMASReikšminiai žodžiai: įsidarbinimas, nedarbas, sprendimų paramos sistema, recesija.

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Section: From Unemployment To Self-employmentsupporting

confidence: 67%

Section: From Unemployment To Self-employmentmentioning

confidence: 99%

Section: From Unemployment To Self-employmentmentioning

confidence: 99%

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Counselling for Self-Employment: The Application of Decision Support System

Smaliukienė

Bekešienė

Dudzevičiūtė

2012

Business: Theory and Practice

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“…A voluminous literature deals with these issues, but there is yet no consensus on the "solutions" to these challenges. 43 Another key challenge posed for macro models at use in central banks following the crisis is that they have to provide a framework where topical questions can be addressed. First, they have to provide a framework where the central bank can use both conventional monetary policy (manipulating short rates) and unconventional policies (large scale asset purchases (LSAPs) and QE) to a¤ect the economy.…”

Section: State Of Macroeconomic Modeling: Critical Assessment and Outmentioning

confidence: 99%

Challenges for Central Banks’ Macro Models

Lindé

Smets

Wouters

2016

Handbook of Macroeconomics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Working Paper series presents reports on matters in the sphere of activities of the Riksbank that are considered to be of interest to a wider public. Terms of use: Documents inThe papers are to be regarded as reports on ongoing studies and the authors will be pleased to receive comments.The opinions expressed in this article are the sole responsibility of the author(s) and should not be interpreted as reflecting the views of Sveriges Riksbank. Challenges for Central Banks'Macro Models AbstractIn this paper we discuss a number of challenges for structural macroeconomic models in the light of the Great Recession and its aftermath. It shows that a benchmark DSGE model that shares many features with models currently used by central banks and large international institutions has di¢ culty explaining both the depth and the slow recovery of the Great Recession. In order to better account for these observations, the paper analyses three extensions of the benchmark model. First, we estimate the model allowing explicitly for the zero lower bound constraint on nominal interest rates. Second, we introduce time-variation in the volatility of the exogenous disturbances to account for the non-Gaussian nature of some of the shocks. Third and …nally, we extend the model with a …nancial accelerator and allow for time-variation in the endogenous propagation of …nancial shocks. All three extensions require that we go beyond the linear Gaussian assumptions that are standard in most policy models. We conclude that these extensions go some way in accounting for features of the Great Recession and its aftermath, but they do not su¢ ce to address some of the major policy challenges associated with the use of non-standard monetary policy and macroprudential policies. JEL Classi…cation: E52, E58

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“…It is described and analyzed in details from many aspects. For example, Christiano et al (2010) were analyzing involuntary unemployment and business cycles. Also, in Cristiano et al (2013) they were writing about unemployment and business cycles, then Braun et al (2007) were describing supply and demand shocks and labor market fluctuations, tried to explain labor market flows in USA over the past fifty years, especially in the periods of crisis, etc.…”

Section: Literature Reviewmentioning

confidence: 99%

Modeling Labor Market Flows on the Basis of Sectoral Employment in Europe

Savić

Zubović

2017

Advances in Finance, Accounting, and Economics

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By tracking the cross-sectoral distribution of employment growth, it is possible to significantly improve the ability to understand aggregate fluctuations of labor force. Adequate model can provide information which sectors have stronger impact on unemployment-to-employment transitional probability. The main goal of this research is modeling the influence of sectoral employment on outflow rate across Europe during economic crisis. Authors argue that shifts in sectoral demand have strong influence on cyclical variation in unemployment-to-employment transition. Study also uncovers highly linear relationships of outflow rate from unemployment to employment and job flows at sectoral level. Empirical data proved a strong positive correlation between dispersion of employment growth across sectors and outflow rate in Europe. Shifts in demand from some sectors to the others are responsible for significant fraction of unemployment-to-employment transition probability. Reallocation shocks accounted for about 70 to 80 percent variability of outflow rates across Europe, during the 2008-2012.

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Involuntary Unemployment and the Business Cycle

Abstract: 4Non-technical summary 5

Cited by 18 publications

References 70 publications

Counselling for Self-Employment: The Application of Decision Support System

Counselling for Self-Employment: The Application of Decision Support System

Challenges for Central Banks’ Macro Models

Modeling Labor Market Flows on the Basis of Sectoral Employment in Europe

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