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Author:Zoega, Gylfi 

Working Paper
The British Beveridge curve: a tale of ten regions

Recent work has suggested the possibility that the Beveridge curve can shift over the business cycle. This is in contrast with a large body of literature claiming that Beveridge curves have shifted due to structural changes alone. To test these claims, we use county-level data to estimate the timing and magnitude of shifts in aggregate and regional British Beveridge curves. We find that these shifts coincide with the business cycle rather than with hysteresis effects or with changes in regional mismatch. This implies that the Beveridge curve is a flawed device for separating the effects of ...
Working Papers , Paper 2001-007

Working Paper
U. S. regional business cycles and the natural rate of unemployment

Estimates of the natural rate of unemployment are important in many macroeconomic models used by economists and policy advisors. This paper shows how such estimates might benefit from closer attention to regional developments. Regional business cycles do not move in lockstep and greater dispersion among regions can affect estimates of the natural rate of unemployment. There is microeconomic evidence that employers are more reluctant to cut wages than they are to raise them. Accordingly, this means that the relationship between wage inflation and vacancies is convex: an increase in vacancies ...
Working Papers , Paper 2003-030

Journal Article
U. S. regional business cycles and the natural rate of unemployment

Estimates of the natural rate of unemployment are important in many macroeconomic models used by economists and policy advisors. This paper shows how such estimates might benefit from closer attention to regional developments. Regional business cycles do not move in lockstep, and greater dispersion among regions can affect estimates of the natural rate of unemployment. There is microeconomic evidence that employers are more reluctant to cut wages than they are to raise them. Accordingly, the relationship between wage inflation and vacancies is convex: An increase in vacancies raises wage ...
Review , Volume 86 , Issue Jan , Pages 23-32

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