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How Structural Is Unemployment in the United States?
Liu, Yuelin - School of Economics, UNSW Business School - 2014
In this paper, the role of matching efficiency (equivalently, mismatch) at the aggregate level in driving unemployment … not sensitive to the level of disaggregation by construction. Observing that estimated aggregate matching efficiency lags … business cycles, I identify a structural shock to aggregate matching efficiency using standard timing restrictions. Based on …
Persistent link: https://www.econbiz.de/10011207095
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Decomposing Beveridge curve dynamics by correlated unobserved components
Klinger, Sabine; Weber, Enzo - Institut für Arbeitsmarkt- und Berufsforschung (IAB) - 2012
components of matching efficiency and separation rate (shifting parameters) as well as unemployment and vacancies. Cointegration … of and movements along the curve. Thereby, the separation rate is more important than matching efficiency and the two are …
Persistent link: https://www.econbiz.de/10010791531
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Uniform Working Hours and Structural Unemployment
Liu, Haoming; Wen, Yi; Zhu, Lijing - In: Annals of Economics and Finance 8 (2007) 1, pp. 113-136
In this paper, we construct a simple model based on heterogeneity in workers¡¯ productivity and homogeneity in their working schedules. This simple model can generate unemployment, even if wages adjust instantaneously, firms are perfectly competitive, and firms can perfectly observe...
Persistent link: https://www.econbiz.de/10009228639
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Structural and Cyclical Unemployment: What Can We Derive from the Matching Function?
Galuscak, Kamil; Munich, Daniel - Česká Národní Banka - 2005
explain shifts in the Beveridge curve using gross labour market flows by estimating the matching function. We interpret … parameter changes in the matching function during the business cycle, distinguishing cyclical and structural changes in the …
Persistent link: https://www.econbiz.de/10005094094
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Structural and Cyclical Unemployment: What Can Be Derived from the Matching Function? (in English)
Galušèák, Kamil; Münich, Daniel - In: Czech Journal of Economics and Finance (Finance a uver) 57 (2007) 3-4, pp. 102-125
matching function. We interpret parameter changes of the matching function during the business cycle, distinguishing cyclical …
Persistent link: https://www.econbiz.de/10005536975
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Deconstructing Structural Unemployment
Schmitt, John; Warner, Kris - Center for Economic and Policy Research (CEPR) - 2011
Some economic observers argue “structural unemployment” has increased in the wake of the Great Recession, but in this paper we find little support for either of two arguments that suggest that structural unemployment has been on the rise. The first argument focuses on the large increase in...
Persistent link: https://www.econbiz.de/10008867484
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Has the 2008-2009 recession increased the structural share of unemployment in the euro area?
S. Haincourt.; M. Mogliani. - In: Quarterly selection of articles - Bulletin de la Banque … (2012) 25, pp. 63-80
The so-called Beveridge curve illustrates the relation between the unemployment rate and the job vacancy rate. Regarding the euro area, the rise in the unemployment rate and the increase in recruitment difficulties since the 2008-2009 recession indicate a risk of a higher level of structural...
Persistent link: https://www.econbiz.de/10010569716
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Estimating a DSGE model with Limited Asset Market Participation for the Euro Area
Albonico, Alice; Paccagnini, Alessia; Tirelli, Patrizio - Dipartimento di Economia, Metodi Quantitativi e … - 2014
We estimate a medium scale DSGE model for the Euro Area to gain intuition on the importance of Limited Asset Market Participation (LAMP). Our results suggest that LAMP is sizeable (39% of households over the 1993-2012 sample) and important to understand EMU business cycle, especially, in the...
Persistent link: https://www.econbiz.de/10010970531
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Non-linear Modelling of the Australian Business Cycle using a Leading Indicator
Shami, Roland G.; Forbes, Catherine S. - Department of Econometrics and Business Statistics, … - 2002
This paper develops a new non-linear model to analyse the business cycle by exploiting the relationship between the asymmetrical behaviour of the cycle and leading indicators. The model proposed is an innovations form of the structural model underlying simple exponential smoothing that is...
Persistent link: https://www.econbiz.de/10005149035
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Comparing Models of Macroeconomic Fluctuations: How Big Are the Differences?
Ghent, Andra - Volkswirtschaftliche Fakultät, … - 2006
I generate priors for a VAR from four competing models of economic fluctuations: a standard RBC model, Fisher’s (2006) investment-specific technology shocks model, an RBC model with capital adjustment costs and habit formation, and a sticky price model with an unaccommodating monetary...
Persistent link: https://www.econbiz.de/10005836550