Has the Great Recession raised U.S. structural unemployment? /

Has the Great Recession raised U.S. structural unemployment? /

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Bibliographic Details
Author / Creator:Estevão, Marcello, author.
Imprint:[Washington, District of Columbia] : International Monetary Fund, 2011.
©2011
Description:1 online resource (64 p.).
Language:English
Series:IMF Working Paper ; WP/11/105
IMF working paper ; WP/11/105.
Subject:
Structural unemployment -- United States -- Econometric models.
Global Financial Crisis, 2008-2009.
Structural unemployment -- Econometric models.
Structural unemployment -- Econometric models.
United States.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13513903
Hidden Bibliographic Details
Other authors / contributors:Tsounta, Evridiki, author.
International Monetary Fund, author.
ISBN:1283563517
9781283563512
9786613875969
6613875961
1455256366
9781455256365
Notes:Description based upon print version of record.
Includes bibliographical references.
English.
Description based on online resource; title from PDF title page (ebrary, viewed September 22, 2014).
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.
Other form:1-4552-6040-1
Table of 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

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