01617cas a2200241 a 4500 AALejournalIMF006673 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455202195 1018-5941 BD-DhAAL BD-DhAAL Vitek, Francis. Output and Unemployment Dynamics during the Great Recession : A Panel Unobserved Components Analysis / Francis Vitek. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (20 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated into its fifteen largest national economies. We find that excess supply pressure was primarily transmitted from the output market to the labor market by economy specific combinations of negative domestic or foreign output demand shocks, mitigated to varying degrees by countercyclical labor market policies or institutions. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2010/185 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/185/001.2010.issue-185-en.xml IMF e-Library