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dc.contributor.authorKaranassou, Marikaen_US
dc.contributor.authorSnower, Dennis J.en_US
dc.date.accessioned2009-01-28T14:17:58Z-
dc.date.available2009-01-28T14:17:58Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/2470-
dc.description.abstractThe aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting lagged adjustment processes. In the context of estimated labor market systems for Germany, the UK, and the US, we construct aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long it takes for unemployment to reach long-run equilibrium) and quantitative (depicting the cumulative amount of unused labor resources generated in the aftermath of a shock). Furthermore, we estimate the contributions of individual lagged adjustments to these aggregate measures. Our empirical results indicate that (i) lagged adjustment processes play an important part in explaining how temporary and permanent shocks affect unemployment, (ii) temporary and permanent shocks can yield quite different inter-country comparisons of unemployment effects, and (iii) the quantitative and temporal measures can also yield markedly different inter-country comparisons. This analysis provides insights into the driving forces underlying the movements of unemployment in the countries above.en_US
dc.language.isoengen_US
dc.publisherIZA Bonn-
dc.relation.ispartofseriesDiscussion paper series / Forschungsinstitut zur Zukunft der Arbeit 127-
dc.subject.jelJ32en_US
dc.subject.jelE37en_US
dc.subject.jelE30en_US
dc.subject.jelJ64en_US
dc.subject.jelJ60en_US
dc.subject.ddc330-
dc.subject.keywordUnemploymenten_US
dc.subject.keywordNatural rate hypothesis-
dc.subject.keywordLabor markets-
dc.subject.keywordEmployment-
dc.subject.keywordAdjustment costs-
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwHysteresisen_US
dc.subject.stwSchocken_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwWirtschaftliche Anpassungen_US
dc.subject.stwAnpassungskostenen_US
dc.subject.stwSchätzungen_US
dc.subject.stwVergleichen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwGroßbritannienen_US
dc.subject.stwUSAen_US
dc.titleCharacteristics of unemployment dynamics: The chain reaction approachen_US
dc.typeWorking Paperen_US
dc.identifier.ppn318739909en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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