Name File Type Size Last Modified
  Manuscript 01/25/2024 10:17:AM
  Replication_files 03/27/2025 05:32:PM
CHANGES.pdf application/pdf 10.4 KB 03/27/2025 01:31:PM
README.pdf application/pdf 146.7 KB 01/27/2024 05:05:AM

Project Citation: 

Furlanetto, Francesco, Lepetit, Antoine, Robstad, Ørjan, Rubio-Ramirez, Juan, and Ulvedal, Pål. Data and Code for: Estimating Hysteresis Effects. Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-03-27. https://doi.org/10.3886/E194141V2

Project Description

Summary:  View help for Summary In this paper we identify demand shocks that can have a permanent effect on output through hysteresis effects. We call these shocks permanent demand shocks. They are found to be quantitatively important in the United States, in particular in samples starting in the 1980s. Recessions driven by permanent demand shocks lead to a permanent decline in employment and investment, while output per worker is largely unaffected. We find strong evidence that hysteresis transmits through a rise in long-term unemployment and a decline in labor force participation and disproportionately affects the least productive workers.

Scope of Project

JEL Classification:  View help for JEL Classification
      A10 General Economics: General
      A11 Role of Economics; Role of Economists; Market for Economists
      A12 Relation of Economics to Other Disciplines


Related Publications

Published Versions

Export Metadata

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.