Micro vs macro explanations of post-war US unemployment movements

This paper considers contributions of industry-sectoral-micro shocks vs aggregate macro shocks. A dynamic factor model is estimated with maximum likelihood method in the frequency domain, and decomposes US unemployment movements into industry sectoral and common components. Sectoral shocks account for around half unemployment movements.

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Year of publication:	2010
Authors:	Heaton, Chris ; Oslington, Paul
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 106.2010, 2, p. 87-91
Publisher:	Elsevier
Keywords:	Structural unemployment Sectoral vs aggregate shocks Dynamic factor analysis

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008551393