Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Using a set of cointegration and error correction models with asymmetric adjustment, this paper investigates aggregate labor market adjustment in the U.S. and Canada in the post-1973 period. Empirical results show real wages, productivity, and unemployment are cointegrated. Adjustment towards...