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dc.contributor.authorKaranassou, Marikaen
dc.contributor.authorSnower, Dennis J.en
dc.date.accessioned2009-01-28T14:17:58Z-
dc.date.available2009-01-28T14:17:58Z-
dc.date.issued2000-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x127en
dc.subject.jelJ32en
dc.subject.jelE37en
dc.subject.jelE30en
dc.subject.jelJ64en
dc.subject.jelJ60en
dc.subject.ddc330en
dc.subject.keywordNatural rate hypothesisen
dc.subject.keywordLabor marketsen
dc.subject.keywordEmploymenten
dc.subject.keywordAdjustment costsen
dc.subject.keywordUnemploymenten
dc.subject.stwArbeitslosigkeiten
dc.subject.stwHysteresisen
dc.subject.stwSchocken
dc.subject.stwArbeitsmarkten
dc.subject.stwWirtschaftliche Anpassungen
dc.subject.stwAnpassungskostenen
dc.subject.stwSchätzungen
dc.subject.stwVergleichen
dc.subject.stwDeutschlanden
dc.subject.stwGroßbritannienen
dc.subject.stwUSAen
dc.titleCharacteristics of unemployment dynamics: The chain reaction approach-
dc.typeWorking Paperen
dc.identifier.ppn834565544en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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