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unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …
Persistent link: https://www.econbiz.de/10012418077
The negative and stable relationship between an economy's aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …
Persistent link: https://www.econbiz.de/10012796190
Persistent link: https://www.econbiz.de/10010388661
Persistent link: https://www.econbiz.de/10010389581
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal...
Persistent link: https://www.econbiz.de/10012667415
This paper proposes a hidden state Markov model (HMM) that incorporates workers' unobserved labor market attachment into the analysis of labor market dynamics. Unlike previous literature, which typically assumes that a worker's observed labor force status follows a first-order Markov process,...
Persistent link: https://www.econbiz.de/10012155058
medium-term business cycle fluctuations in GDP, its components and the unemployment rate. Additionally, it facilitates …
Persistent link: https://www.econbiz.de/10011742886
Persistent link: https://www.econbiz.de/10011281894
The Great Recession pushed Japan’s unemployment rate to historic highs, but the increase has been small by …
Persistent link: https://www.econbiz.de/10014403441
.C from 1991 to 2008, we present econometric evidence that supports that changes in state-level unemployment rates are linked … causality going from mismatches and housing conditions to unemployment rates. The numerical estimates imply that the structural … unemployment rate in 2010 was about 13⁄4 percentage points higher than before the onset of the housing market meltdown at end-2006 …
Persistent link: https://www.econbiz.de/10014399412