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Replication data for: Debt Constraints and the Labor Wedge

Version
V0
Resource Type
Dataset
Creator
  • Kehoe, Patrick
  • Midrigan, Virgiliu
  • Pastorino, Elena
Publication Date
2016-05-01
Description
  • Abstract

    Changes in household debt and employment across regions of the U.S. during the Great Recession are highly correlated: regions where the decrease in household debt was most pronounced were also regions where the decline in employment was most severe. We show that the drop in employment in the regions that have experienced the largest decrease in household debt is mostly accounted for by changes in the labor wedge (deviations from a static consumption-leisure choice) as opposed to changes in real wages. We argue that such a pattern is consistent with fluctuations in debt constraints in a standard Bewley-Aiyagari model.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.p20161088 (Text)
Publications
  • Kehoe, Patrick, Virgiliu Midrigan, and Elena Pastorino. “Debt Constraints and the Labor Wedge.” American Economic Review 106, no. 5 (May 2016): 548–53. https://doi.org/10.1257/aer.p20161088.
    • ID: 10.1257/aer.p20161088 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Kehoe, Patrick; Midrigan, Virgiliu; Pastorino, Elena (2016): Replication data for: Debt Constraints and the Labor Wedge. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116315