Fiscal Stimulus and Unemployment Dynamics

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抄録

Focusing on both hiring and firing margins, this paper revisits effects of fiscal expansion on unemployment. We provide evidence that an increase in government spending increases the job finding rate and reduces the separation rate, lowering unemployment in the U.S. by using a structural VAR model. We then develop a DSGE model with search frictions where job separation is endogenously determined. Our model can capture the empirical pattern of responses of the job finding, separation, and unemployment rates to a government spending shock. We also demonstrate that model's predictions are in contrast with earlier studies that assume exogenous separation.

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キーワード

詳細情報 詳細情報について

  • CRID
    1050282812588282752
  • NII論文ID
    120006332583
  • Web Site
    https://iuj.repo.nii.ac.jp/records/512
  • 本文言語コード
    en
  • 資料種別
    departmental bulletin paper
  • データソース種別
    • IRDB
    • CiNii Articles

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