Technology shocks and unemployment in the last recession
Abstract: In the latest recession, unemployment rates in the United States increased at a faster pace than in the average OECD country. Since the unemployment rate has been more sensitive to technological shocks in the United States in the past than in other OECD countries, I investigated whether increased sensitivity to such shocks was the reason for the recent relative increase in the U.S. unemployment rate. I find this was not the case.
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Description: Full text
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2012
Order Number: 7