This paper re-examines Lilien's sectoral shifts hypothesis for U.S. unemployment. We employ a monthly panel that spans … stationarity of unemployment. Within a framework that takes into account dynamics, parameter heterogeneity and cross …

they joined the establishment from unemployment This is supportive of equal treatment. We also show that a four parameter … series properties and co-properties of real wages, output, and unemployment, in particular the asymmetric response of wages …

in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

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 …

explaining these patterns, but an extension of the model with credit-constraint shocks does much better in accounting for the new …

unemployment is very close to zero when unemployment is above its long term average but large and highly significant when below. We … unemployment. It cannot however match the persistence of the German unemployment rate. We conjecture that extending the model to …