This paper explores the mean-reverting behavior of the unemployment rate using monthly geographically disaggregated … regimes at unknown points of time. We find that the Great Recession also altered the persistence of the unemployment rate …

testing methodology that accounts for the nonlinearity and structural breaks. Using unemployment fluctuations as a proxy for … unemployment fluctuations reflects the effect of exchange rate volatility on corporate investment decisions, which in turn, drives … causality in the direction of exchange rates from unemployment possibly reflects the signals regarding monetary policy actions …