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040 |aCaOODSP|beng|erda|cCaOODSP
043 |an-cn---
0861 |aFB3-5/2026-31E-PDF
1001 |aCalvo, Guillermo A., |eauthor.
24510|aLabor markets, financial crises, and inflation : |bjobless and wageless recoveries / |cGuillermo Calvo, Emilio Colombi, Fabrizio Coricelli, Pablo Ottonello.
264 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |cSeptember 18, 2026.
264 4|c©2026
300 |a1 online resource (43 pages) : |bcharts.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2026-31
500 |aISSN assigned to different series.
504 |aIncludes bibliographical references.
520 |a"We document the macroeconomic patterns that characterize labor market recovery from financial crises. Using a sample of postwar recession episodes from around the world, we show that financial crises are typically followed by jobless recoveries, with a sluggish recovery in employment relative to output. A departure from this empirical regularity occurs in emerging-market crises with high inflation, which feature strong employment recoveries but persistent declines in real wages and result in “wageless recoveries.” Our findings highlight the central role of financial components in labor input costs and nominal wage rigidities in shaping labor market dynamics following economic crises"--Abstract, page 1.
650 0|aFinancial crises.
650 0|aUnemployment.
650 0|aInflation (Finance)
650 6|aCrises financières.
650 6|aChômage.
650 6|aInflation.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2026-31.|w(CaOODSP)9.806221
85640|qPDF|s1.05 MB|uhttps://publications.gc.ca/collections/collection_2026/banque-bank-canada/FB3-5-2026-31-eng.pdf