in German unemployment is fully explained by hysteresis. The Great Recession was well absorbed because both hysteresis …We construct a new Markov-switching unobserved components framework for the analysis of hysteresis effects. Our model … effects and structural unemployment were substantially reduced after institutional reforms. In contrast, U.S. unemployment did …

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 …

We study how the output gap affects potential output over time-i.e., the dynamic hysteresis effect. To do so, we … introduce novel unobserved components (UC) models that consider hysteresis as a sequence of lagged effects, thus separating the … hysteresis effects after the 1970s, with the negative long-run effect of the Global Financial Crisis and the COVID-19 recessions …

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 …

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 …