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Sectoral Okun's Law and Cross-Country Cyclical Differences
Goto, Eiji - 2020
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...
Persistent link: https://www.econbiz.de/10012841145
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Sorting and the output loss due to search frictions
Gautier, Pieter A.; Teulings, Coen N. - 2011
max-mean wage differential. The latter measure of wage dispersion is more robust than measures based on the reservation … wage, due to the long left tail of the wage distribution. We estimate this wage differential using data on match quality … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …
Persistent link: https://www.econbiz.de/10010274790