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 …

The German unemployment rate shows strong signs if non-stationarity over the course of the previous decades. This is in … line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the … structural VAR model as developed by Balmaseda, Dolado and López-Salido (2000) allowing for full hysteresis on the labour market …

target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness …

the unemployment rate. Our results are threefold. First, only a minor part of the rise in uncertainty measures during the … percentage point of the drop in GDP, macroeconomic uncertainty shocks increased the unemployment rate by up to 0.7 percentage …

containing GDP, unemployment (or price), real wage and the real exchange rate, four structural shocks are identified; Velocity …, unemployment, price, real wage and the real exchange rate. The results are robust to alternative specifications of the model and …

unemployment over the last two decades that persisted beyond the Great Recession. Our structural VAR approach encompasses various … for most of the observed unemployment decline. Wage moderation was most pronounced right after the implementation of Hartz ….e. within the monetary union. In contrast, the muted response of unemployment to the Great Recession was not significantly …