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

A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the unemployment crisis in the Great Depression. The limited responses of wages from credible bargaining to … labor market conditions, along with the congestion externality from matching frictions, cause the unemployment rate to rise …

increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to … confirms that the contribution of EPU shocks to the volatility of unemployment at business cycle frequencies is markedly larger …

unemployment rate to movements in output growth increasing recently over time in both Canada and the United States. -- Business …

demonstrated that the inconclusive evidence is not only caused by measurement problems, estimation method and composition bias as …

unemployment rate are estimated by Markov chain Monte Carlo methods. The Markov switching model is identified by constraining the … difference of the unemployment rate. Out of sample forecasts are obtained from Bayesian predictive densities. Although both …