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Journal of Economic Literature - Book Review

JEL Volume. 51, Issue 4 | leftPrevious Review Next Review right

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Book(s) Reviewed

The Redistribution Recession: How Labor Market Distortions Contracted the Economy by Casey B. Mulligan

Published By: Oxford and New York: Oxford University Press
ISBN: 978-0-19-994221-3
Date of Publication: 2012


Book Review Detail

Reviewed by: Christopher L. Foote of Federal Reserve Bank of Boston
Review DOI: 10.1257/jel.51.4.1183.r6
Review Pages: 1194-98

Book Review Abstract

Christopher L. Foote of Federal Reserve Bank of Boston reviews, "The Redistribution Recession: How Labor Market Distortions Contracted the Economy" by Casey B. Mulligan. The Econlit abstract of this book begins: "Explores the decline of employment in the United States after the financial crisis and its failure to recover and considers the role of economic activity and public policy. Discusses the rise of labor productivity; the expanding social safety net; supply and demand—labor market consequences of safety net expansions; means-tested subsidies and economic dynamics since 2007; cross-sectional patterns of employment and hours changes; Keynesian and other models of safety net stimulus; recession-era effects of factor supply and demand—evidence from the seasonal cycle, the construction market, and minimum wage hikes; incentives and compliance under the federal mortgage modification guidelines; and uncertainty, redistribution, and the labor market. Mulligan is Professor of Economics at the University of Chicago."


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Book Review Authors

Christopher L. Foote of Federal Reserve Bank of Boston


JEL Classifications

E23: Macroeconomics: Production
E24: Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
E32: Business Fluctuations; Cycles
E62: Fiscal Policy
G01: Financial Crises


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