Data and Code for "The Matching Multiplier and the Amplification of Recessions"
Principal Investigator(s): View help for Principal Investigator(s) Christina Patterson, University of Chicago. Booth School of Business
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| Census-Data-Programs | 01/06/2023 11:22:AM | ||
| Intermediate-Data | 11/08/2022 05:32:PM | ||
| Output | 01/30/2023 11:34:AM | ||
| Programs | 01/30/2023 11:29:AM | ||
| Raw-Data | 11/09/2022 04:55:AM | ||
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application/pdf | 195.9 KB | 01/30/2023 06:28:AM |
Project Citation:
Patterson, Christina. Data and Code for “The Matching Multiplier and the Amplification of Recessions” . Nashville, TN: American Economic Association [publisher], 2023. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2023-03-21. https://doi.org/10.3886/E182862V1
Project Description
Summary:
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This paper shows that the unequal incidence of recessions in the labor market amplifies aggregate shocks. Using administrative data from the United States, I document a positive covariance between worker marginal propensities to consume (MPCs) and their elasticities of earnings to GDP, which is a key moment for a new class of heterogeneous-agent models. I define the Matching Multiplier as the increase in the multiplier stemming from this matching of high MPC workers to more cyclical jobs. I show that this covariance is large enough to increase the aggregate MPC by 20 percent over an equal exposure benchmark.
Scope of Project
Subject Terms:
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Marginal Propensity to Consume;
Amplification;
Marginal Propensity to Consume
JEL Classification:
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E21 Macroeconomics: Consumption; Saving; Wealth
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
J23 Labor Demand
E21 Macroeconomics: Consumption; Saving; Wealth
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
J23 Labor Demand
Geographic Coverage:
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United States
Time Period(s):
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1/1992 – 12/2011
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