significant contribution to unemployment dynamics by GTU shocks in the United States. Differently, the contribution of GTU shocks … to unemployment dynamics in Australia is found to be much milder and substantially lower than that of monetary policy …

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 …

.S. unemployment rates. We extract the common dynamics amongst unemployment rates disaggregated for 7 age groups. The framework allows … analysis of the contribution of demographic factors to secular changes in unemployment rates. In addition, it allows … favor of the common factor and of the switching between high and low unemployment rate regimes. We also find that …

The time series evidence on the relationship between unemployment and the real prices of capital and energy is re … equilibrium unemployment. Using a Markov Switching vector autoregressive method proposed by Psaradakis, Ravn, Sola (2005 … unemployment during NBER expansions only. Granger causality from the oil price to unemployment occurs in recessions. The results …

. Second, we apply it to test for breaks in the unemployment rate in the US, the UK and Japan. Our results shed some light on … the empirical relevance of alternative unemployment theories for these countries. Specifically, a structuralist … interpretation appears more appropriate for the US and Japan, whilst a hysteresis model accounts better for the UK experience (and …

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 …

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 …

The dynamic behavior of the unemployment rate is determined by the worker flows into and out of unemployment. The … literature on the dynamics of unemployment flows typically emphasizes the following features: they simultaneously occur over the … business cycle, and their size is positively linked to the unemployment rate. Unemployment flows are highly volatile …