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Abstract This paper provides evidence that unemployment rates across US states are stationary and therefore behave according to the natural rate hypothesis. We provide new insights by considering the effect of key variables on the speed of adjustment associated with unemployment shocks. A...

This paper proposes an empirical method for estimating a long-run trend for the unemployment rate that is grounded in the modern theory of unemployment. I write down an unobserved components model and identify the cyclical and trend components of the underlying unemployment flows, which in turn...

Türkiye’nin 2001 krizinden sonra maruz kaldýðý iktisadi dalgalanmalarda aþaðý yönlü katýlýk gösteren iþsizlik sorununa karþý, 1970’lerde arka arkaya gelen petrol fiyatý þoklarýna baðlý ekonomik krizlerden sonra benzer bir sorunu yaþayan geliþmiþ Avrupa ekonomileri...

In this paper I test the capital accumulation conjecture that is used to rationalize return migration decisions in the context of immigrants in Germany and examine how labor market outcomes influence return migration decisions, with particular attention to selection in these outcomes in return...

We show that the inability of a standardly-calibrated labor search-and-matching model to account for labor market volatility extends beyond the U.S. to a set of OECD countries. That is, the volatility puzzle is ubiquitous. We argue cross-country data is helpful in scrutinizing between potential...