ITEM METADATA RECORD
Title: Slow recoveries: a structural interpretation
Authors: Gali, J. ×
Smets, Frank
Wouters, R. #
Issue Date: Dec-2012
Publisher: Ohio State University Press
Series Title: Journal of Money, Credit and Banking vol:44 issue:2 pages:9-30
Abstract: An analysis of the performance of GDP, employment, and other labor market variables following the troughs in postwar U.S. business cycles points to much slower recoveries in the three most recent episodes, but does not reveal any significant change over time in the relation between GDP and employment. This leads us to characterize the last three episodes as slow recoveries, as opposed to jobless recoveries. We use the estimated New Keynesian model in Galí, Smets, and Wouters (2011) to provide a structural interpretation for the slower recoveries since the early nineties.
ISSN: 0022-2879
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Research Center of International Economics, Leuven
× corresponding author
# (joint) last author

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