【主讲】Juanyi Xu 副教授 (香港科技大学)
【主题】Eurosclerosis and International Business Cycles
【时间】2012年12月10日 (周一) 15：30-17：00
【地点】上海财经大学经济学院楼710室
【语言】英文
【摘要】This paper reconciles two macroeconomic facts. First, since the 1980’s, European unemployment rates have risen substantially above USA levels. Second, European business cycle have lagged the USA business cycle during the period of the Great Moderation. This paper incorporates search frictions with endogenous job creation and destruction into a two country dynamic stochastic general equilibrium model. In the model, more generous unemployment benefits and greater firing costs can endogenously generate higher unemployment. These same policies will also create labor market frictions which slow the response of the economy to business cycle conditions.
