Unemployment Surges in the EU: The Role of Risk Premium Shocks

Unemployment Surges in the EU: The Role of Risk Premium Shocks
In the last decade, over half of the EU countries in the euro area or with currencies pegged to the euro were hit by large risk premium shocks. Previous papers have focused on the impact of these shocks on demand. This paper, by contrast, focuses on the impact on supply. We show that risk premium shocks reduce the output level that maximizes... READ MORE...

Publication date: March 2019
ISBN 9781484399637
$18.00

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