unemployment fluctuations of the last three decades. A structural VAR model for the growth rates of labor productivity, inflation … and unemployment is estimated on American and French data. By using long-run identifying restrictions, unemployment … large part of the French unemployment drift. This result questions the conventional prior that the heterogeneity in …

unemployment fluctuations of the last three decades. A structural VAR model for the growth rates of labor productivity, inflation … and unemployment is estimated on American and French data. By using long-run identifying restrictions, unemployment … large part of the French unemployment drift. This result questions the conventional prior that the heterogeneity in …

in German unemployment is fully explained by hysteresis. The Great Recession was well absorbed because both hysteresis …We construct a new Markov-switching unobserved components framework for the analysis of hysteresis effects. Our model … effects and structural unemployment were substantially reduced after institutional reforms. In contrast, U.S. unemployment did …

the unemployment rate. Our results are threefold. First, only a minor part of the rise in uncertainty measures during the … percentage point of the drop in GDP, macroeconomic uncertainty shocks increased the unemployment rate by up to 0.7 percentage …

unemployment over the last two decades that persisted beyond the Great Recession. Our structural VAR approach encompasses various … for most of the observed unemployment decline. Wage moderation was most pronounced right after the implementation of Hartz ….e. within the monetary union. In contrast, the muted response of unemployment to the Great Recession was not significantly …

This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our … standard limit distribution. The empirical results suggest that the US unemployment rate can be specified in terms of a … real interest rates). We also find evidence of a long-memory component. Our results are consistent with a hysteresis model …

This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our … standard limit distribution. The empirical results suggest that the US unemployment rate can be specified in terms of a … real interest rates). We also find evidence of a long-memory component. Our results are consistent with a hysteresis model …

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

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …