The Impact of Monetary Policy on Unemployment Hysteresis

Simon Sturn ()
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Simon Sturn: Macroeconomic Policy Institute - Macroeconomic Policy Institute

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Abstract: This paper investigates the hypothesis that the extent to which hysteresis occurs in the aftermath of recessions depends on monetary policy reactions. The degree of hysteresis is explained econometrically by the extent of monetary easing during a recession and by standard variables for labour market institutions in a pooled cross-country analysis using quarterly data. The sample includes 40 recessions in 19 OECD countries for which the required data is available. The time period lasts from 1980 to 2007. The paper builds on Ball (1999) and extends the sample of countries, the time period under investigation and the set of control variables.

Keywords: Social; Sciences; &; Humanities (search for similar items in EconPapers)
Date: 2011-07-18
Note: View the original document on HAL open archive server: https://hal.science/hal-00718701
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Citations: View citations in EconPapers (6)

Published in Applied Economics, 2011, pp.1. ⟨10.1080/00036846.2011.566199⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00718701

DOI: 10.1080/00036846.2011.566199

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