unemployment. Significant asymmetries emerge. Lilien's dispersion index is significant only for relatively high levels of … unemployment and becomes insignificant for low levels suggesting that reallocation affects unemployment only when the latter is … high. More job reallocation is associated with higher unemployment. …

We examine the dynamic phenomenon of unemployment as a constantly changing inventory of unemployed individuals. We … unemployment. Multicointegration, introduced by Granger and Lee (1989), offers a natural way to model the level of unemployment as … an inventory. We find that there is multicointegration between inflows into and outflows from unemployment and the level …

the unemployment rate in Australia over the period 1979-1998. The Hodrick-Prescott filter is employed to extract the …

The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in … the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are … highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment …

The trade-off between output and unemployment has become an essential part of modern macroeconomics and is known as …

operating firms. While unemployment rapidly increases, inability of decreasing the real cost makes the policies aimed at … unemployment ineffective. …