The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …) past UK labour market shocks have prolonged after-effects on unemployment due to interactions among different lagged …