Showing 1 - 10 of 192
We set up and estimate a structural unobserved components open economy model for the rate of unemployment and the real … factors. Thus, the results indicate that the dramatic changes in the Swedish unemployment rate during the 1990s mainly was a … inflation is found to be quite sensitive to the unemployment gap. An increase in cyclical unemployment by 1 percentage point …
Persistent link: https://www.econbiz.de/10011583137
unemployment duration, which is consistent with the theory that individuals with financial buffers are able to search for new …This study examines how the financial buffer of unemployed individuals affects the duration of their unemployment and …
Persistent link: https://www.econbiz.de/10012111565
intensive and extensive margin of labor supply? What are the spillover effects of financial market disturbances to unemployment … open economy ; DSGE ; financial frictions ; labor market frictions ; unemployment …
Persistent link: https://www.econbiz.de/10003576718
In this paper we study 2-state Markov switching VAR models of monthly unemployment and inflation for three countries … with high or low unemployment volatility. We find that MS-VAR models seem to provide a better description of the data than … variance in unemployment. In the U.S. case we find that the variance of unemployment is lower in the low inflation regime than …
Persistent link: https://www.econbiz.de/10011584800
This paper shows how uninsurable unemployment risk is crucial to qualitatively and quantitatively match macro responses … behaviors, triggering a fall in aggregate demand and supply. These precautionary behaviors increase the unemployment risk of the … imperfectly insured households, who strengthen precautionary saving. When the feedback loop between unemployment risk and …
Persistent link: https://www.econbiz.de/10012296809
I evaluate the welfare performance of a target for the level of nominal GDP in a New Keynesian model with unemployment …
Persistent link: https://www.econbiz.de/10012161495
rate in recent years reflects a structural development, but that the low levels of unemployment may be a mainly cyclical …
Persistent link: https://www.econbiz.de/10011584497
A new approach is proposed for estimating potential output and the NAIRU. Identification is achieved using Okun's law and a Phillips curve. The performance of the methodology is exemplified using data from Canada, the UK, and the US.
Persistent link: https://www.econbiz.de/10011584531
I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest … increase in the covariance between individually estimated unemployment risks and local home prices implies an average increase …
Persistent link: https://www.econbiz.de/10010203021
-matching theory, job creation in a firm should depend on the availability of workers (unemployment) and on the number of job openings … of the search-matching theory. -- Job Creation ; Involuntary Unemployment ; Search-Matching ; Labor Demand … in other firms (congestion). According to efficiency wage and bargaining theory, wages are set above the market clearing …
Persistent link: https://www.econbiz.de/10003319548