Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic

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Standard

Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic. / Ravenna, Federico; Walsh, Carl E.

I: Journal of Money, Credit and Banking, Bind 54, Nr. S1, 2022, s. 113-155.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Ravenna, F & Walsh, CE 2022, 'Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic', Journal of Money, Credit and Banking, bind 54, nr. S1, s. 113-155. https://doi.org/10.1111/jmcb.12899

APA

Ravenna, F., & Walsh, C. E. (2022). Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic. Journal of Money, Credit and Banking, 54(S1), 113-155. https://doi.org/10.1111/jmcb.12899

Vancouver

Ravenna F, Walsh CE. Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic. Journal of Money, Credit and Banking. 2022;54(S1):113-155. https://doi.org/10.1111/jmcb.12899

Author

Ravenna, Federico ; Walsh, Carl E. / Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic. I: Journal of Money, Credit and Banking. 2022 ; Bind 54, Nr. S1. s. 113-155.

Bibtex

@article{989004e4d97d40b693cc7802c6bd0527,
title = "Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic",
abstract = "We employ a new Keynesian model with random search in the labor market and endogenous selection among heterogeneous workers to investigate the impact of a pandemic-induced recession on the distribution of unemployment across workers. In such a recession, workers whose unemployment spells in normal times are inefficiently frequent and long are disproportionately affected. This remains true even when the pandemic initially causes mass layoffs that affect workers broadly or if many separations represent temporary layoffs. Monetary policy that responds to labor market variables affects unemployment for all workers but does relatively little for the distribution of unemployment across workers types.",
author = "Federico Ravenna and Walsh, {Carl E.}",
note = "Publisher Copyright: {\textcopyright} 2021 The Ohio State University",
year = "2022",
doi = "10.1111/jmcb.12899",
language = "English",
volume = "54",
pages = "113--155",
journal = "Journal of Money, Credit and Banking",
issn = "0022-2879",
publisher = "Wiley",
number = "S1",

}

RIS

TY - JOUR

T1 - Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic

AU - Ravenna, Federico

AU - Walsh, Carl E.

N1 - Publisher Copyright: © 2021 The Ohio State University

PY - 2022

Y1 - 2022

N2 - We employ a new Keynesian model with random search in the labor market and endogenous selection among heterogeneous workers to investigate the impact of a pandemic-induced recession on the distribution of unemployment across workers. In such a recession, workers whose unemployment spells in normal times are inefficiently frequent and long are disproportionately affected. This remains true even when the pandemic initially causes mass layoffs that affect workers broadly or if many separations represent temporary layoffs. Monetary policy that responds to labor market variables affects unemployment for all workers but does relatively little for the distribution of unemployment across workers types.

AB - We employ a new Keynesian model with random search in the labor market and endogenous selection among heterogeneous workers to investigate the impact of a pandemic-induced recession on the distribution of unemployment across workers. In such a recession, workers whose unemployment spells in normal times are inefficiently frequent and long are disproportionately affected. This remains true even when the pandemic initially causes mass layoffs that affect workers broadly or if many separations represent temporary layoffs. Monetary policy that responds to labor market variables affects unemployment for all workers but does relatively little for the distribution of unemployment across workers types.

U2 - 10.1111/jmcb.12899

DO - 10.1111/jmcb.12899

M3 - Journal article

AN - SCOPUS:85122077426

VL - 54

SP - 113

EP - 155

JO - Journal of Money, Credit and Banking

JF - Journal of Money, Credit and Banking

SN - 0022-2879

IS - S1

ER -

ID: 342609118