Amisano, Gianni; Serati, Massimiliano - In: Scottish Journal of Political Economy 50 (2003) 4, pp. 440-470
We analyse the determinants of unemployment persistence in four OECD countries by estimating a structural Bayesian VAR with an informative prior based on an insiders/outsiders model. We explicitly insert unemployment benefits and labour taxes so that our identification is not affected by the...