Morley, James; Palenzuela, Diego Rodriguez; Sun, Yiqiao; … - 2022
chronology of the business cycle for the euro area and we find that hours worked, more than the unemployment rate, provides the … during the COVID-19 recession when the unemployment rate rose only moderately. Our findings suggest that labor market …We estimate the euro area output gap by applying the Beveridge-Nelson decomposition based on a large Bayesian vector …