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Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10012920449
Okun's law is an empirical relationship that measures the correlation between the deviation of the unemployment rate …
Persistent link: https://www.econbiz.de/10012903931
We investigate the effects of uncertainty shocks on unemployment dynamics in the post-WWII U.S. recessions via non … linear VARs in terms of (i) magnitude of the reaction of the unemployment rate to such shocks, and (ii) contribution to the … variance of the prediction errors of unemployment at business cycle frequencies. We discuss the ability of different classes of …
Persistent link: https://www.econbiz.de/10013053918
We employ a time-varying parameter VAR to examine the dynamic effect of uncertainty shocks on unemployment during …
Persistent link: https://www.econbiz.de/10012894364
comovement of real wages is related to a common factor that exhibits a mild correlation with the national unemployment rate. Our …
Persistent link: https://www.econbiz.de/10003746900
Canadian unemployment rate in booms and busts. We find strong evidence in favor of asymmetric spillover effects. Unemployment … of the 2-year ahead forecast error of the Canadian unemployment rate in periods of slack vs. just 2% during economic … of the latter, lead to a temporary increase in the Canadian unemployment rate. Evidence of asymmetric spillover effects …
Persistent link: https://www.econbiz.de/10011862894
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 …
Persistent link: https://www.econbiz.de/10011864417
Estimates of the Okun coefficient are made for Australian workers grouped by age and gender using an unobserved components model. By analogy we define and estimate a participation coefficient which measures the cyclical response of the labour force participation rate to cyclical output shocks....
Persistent link: https://www.econbiz.de/10011951521
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty in order to prevent layoffs and stabilize employment. Many OECD countries have used this policy in the Great Recession, for example. This paper shows that the effects of...
Persistent link: https://www.econbiz.de/10011718992
We set up and estimate a structural unobserved components open economy model for the rate of unemployment and the real … factors. Thus, the results indicate that the dramatic changes in the Swedish unemployment rate during the 1990s mainly was a … inflation is found to be quite sensitive to the unemployment gap. An increase in cyclical unemployment by 1 percentage point …
Persistent link: https://www.econbiz.de/10011583137