Kulish, Mariano; Morley, James C.; Yamout, Nadine; … - 2024
unemployment due to labor market frictions. Bayesian estimates for the model quantify the effects of both business cycle shocks and … structural changes on the unemployment rate. Applying our model to the Australian economy, we find that the persistent rise in … on unemployment due to sectoral shifts. However, this Dutch Disease effect is estimated to be quantitatively small and …