Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70106
Authors: 
Rünstler, Gerhard
Year of Publication: 
1998
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 53
Abstract: 
The study uses a bivariate unobserved components model for output and the unemployment rate in order to examine stylised facts of the cyclical behaviour of unemployment and to estimate the size of persistence. The model is applied to the U.S., Canada, and major European economies. Estimates of cyclically adjusted unemployment rates are obtained that account for persistence effects and are subject to considerably smaller confidence bounds compared to approaches based on wage and price setting equations.
Subjects: 
trend-and-cycle decomposition
persistence
multivariate
stochastic cycles
JEL: 
C22
E30
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.