We assess the stability of the unemployment gap parameter using linear dynamic Phillips curve models for the United … States. In this study, we allow the unemployment gap parameter to be time-varying such that we can monitor the importance of …

We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR … with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes … so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …

) processes. The linear VAR model is extendedto permit cointegration, a range of deterministic processes, equilibrium restrictions …

cointegration model, of pairs of stock prices. We show the effect that using an encompassing prior under an orthogonal normalization …

We investigate experimentally the economic effects of wage taxation to finance unemployment benefits for a closed … the dynamic interaction between the wage tax and unemployment. (ii) Employment is boosted by budget deficits but …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …