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preferences. TFP news shocks are identified mainly by current and expected unemployment rates since periods in which average … unemployment is relatively high (low) are also periods in which average TFP growth is slow (fast). We work out the noise component … materialize. These autonomous changes in beliefs have induced fluctuations in the unemployment rate within a two …
Persistent link: https://www.econbiz.de/10011822212
The Great Recession tested the ability of the "great U.S. jobs machine" to limit the severity of unemployment in a … live up to expectations. The level and duration of unemployment increased substantially in the downturn and the growth of ….S. performance in the Great Recession contravenes conventional views of the virtues of market-driven flexibility compared to …
Persistent link: https://www.econbiz.de/10012459074
and Sweden). We conduct inference with mixed frequency data, combining quarterly series for unemployment, vacancies, GDP …, consumption, and investment, with annual data on unemployment flows. Parameters and shocks are estimated separately for each … country, which can then vary in terms of search and hiring costs, workers' bargaining power, unemployment benefits levels …
Persistent link: https://www.econbiz.de/10012461229
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Not only the level of aggregate unemployment but also the properties of its dynamics are an important topic in … asymmetric pattern in the evolution of unemployment, whereas linear models with Gaussian innovations preclude such dynamics. This … paper applies several tests for asymmetry to aggregate British, German and US unemployment data to assess the relevance of …
Persistent link: https://www.econbiz.de/10001623736
Not only the level of aggregate unemployment but also the properties of its dynamics are an important topic in … asymmetric pattern in the evolution of unemployment, whereas linear models with Gaussian innovations preclude such dynamics. This … paper applies several tests for asymmetry to aggregate British, German and US unemployment data to assess the relevance of …
Persistent link: https://www.econbiz.de/10011403213
Persistent link: https://www.econbiz.de/10009710469
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substantial changes resulting from striking trends, some of which were catalyzed by the Great Recession and the Covid-19 crisis …
Persistent link: https://www.econbiz.de/10013254473