low-paid workers' submarkets. The model fits the job finding, job separation, and unemployment rates well. It also … of the aggregate shock that allows generating the US labor market fluctuations has a correlation with unemployment that …

A new test for hysteresis based on a nonlinear unobserved components model is proposed. Observed unemployment rates are … cyclical unemployment to have a different impact on the natural rate depending on the regime of the economy. The impact of …

-Mortensen-Pissarides model. Log linearization under- states the mean and volatility of unemployment, but overstates the volatility of labor … market tightness and the magnitude of the unemployment-vacancy correlation. Log linearization also understates the impulse … responses in unemployment in recessions, but overstates the responses in the market tightness in booms. Finally, the second …

The unemployment rate in Australia is modelled as an assymmetric and non-linear function of aggregate demand …, productivity, real wagesand unemployment benefits. Negative changes in aggregate demand cause the unemployment rate to rise rapidly …, while real wage rigidity contributes its to slow adjustment back towards a lower level of unemployment. The model is …

strong support for concave shaped unemployment-gap and output-gap based Phillips curve specifications. Given the specific …

Asymmetric behavior has been documented in post-war quarterly U.S. unemployment rates. This suggests that improvement …-inducing transformation is applied to the nonstationary unemployment rate series …

unemployment and vacancies fluctuationsbut their role is limited for output fluctuations. Third, labour market relaxation policies … have onlymarginally contributed to the reduction in unemployment. Last, accounting for wage rigiditiesinfluences labour …