Unemployment in the Great Recession: A Comparison of Germany, Canada, and the United States

• 成果类型: Article
• 署名作者: Hoffmann, Florian; Lemieux, Thomas
• 署名单位: University of British Columbia; National Bureau of Economic Research
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/682424
• 发表日期: 2016
• 页码: S95-S139
• 关键词: explains

摘要

This paper looks at the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-9. A first important finding is that the large employment swings in the construction sector linked to the boom and bust in US housing markets is an important factor behind the different labor market performances of the three countries. We also find that cross-country differences among OECD countries are consistent with a conventional Okun relationship linking gross domestic product growth to employment performance.