What are the effects of financial market imperfections on unemployment and vacancies in Canada? The author estimates … more volatile labour market. The author finds that the model accounts well for the cyclical behaviour of unemployment and … labour market. Overall, financial shocks contribute about 30 per cent of the fluctuations in unemployment and vacancies for …

The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment … the model using Canadian data from 1991 to 2010. I find that, in the long run, unemployment fluctuations are mainly driven … per cent of unemployment fluctuations. I also find that inclusion of the recent financial crisis data in the estimation is …

In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We … extent to which methods provide explanations for changes in trend unemployment; (ii) whether revisions to unemployment gap … (UGAP, the difference between the actual unemployment rate and TUR) estimates are well behaved; (iii) if UGAPs provide …