Full Citation

Title: Effects of U.S. Banking Deregulation on Unemployment Dynamics

Citation Type: Journal Article

Publication Year: 2020

ISBN:

ISSN: 01640704

DOI: 10.1016/j.jmacro.2020.103237

NSFID:

PMCID:

PMID:

Abstract: I use state-level banking deregulation in the U.S. to study the causal impact of credit expansion on unemployment through its effects on the average monthly job-finding and job-losing rates. State-level analysis shows that deregulation increased the average job-finding rate and decreased the job-losing rate, and thus led to a lower unemployment rate. I also find that deregulation decreased the average unemployment duration. Extending the analysis to industry-state level, I find that the impact of deregulation on the job-finding rate is positive, but does not show any pattern across industries with respect to their needs for external finance. However, deregulation reduced the average job-losing rate, and the reduction monotonically increases with industries’ dependence on external finance.

Url: https://www.sciencedirect.com/science/article/pii/S0164070420301634

User Submitted?: No

Authors: Unel, Bulent

Periodical (Full): Journal of Macroeconomics

Issue:

Volume: 65

Pages: 1-13

Data Collections: IPUMS CPS

Topics: Labor Force and Occupational Structure, Poverty and Welfare

Countries: