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dc.contributor.authorRAVN, Morten O.
dc.contributor.authorSIMONELLI, Saverio
dc.date.accessioned2007-08-27T07:46:25Z
dc.date.available2007-08-27T07:46:25Z
dc.date.issued2007
dc.identifier.issn1725-6704
dc.identifier.urihttp://hdl.handle.net/1814/6977
dc.description.abstractWe use a 12-dimensional VAR to examine the dynamic effects on the labor market of four struc- tural technology and policy shocks. For each shock, we examine the dynamic effects on the labor market, the importance of the shock for labor market volatility, and the comovement between labor market variables and other key aggregate variables in response to the shock. We document that labor market indicators display \hump-shaped" responses to the identified shocks. Technology shocks and monetary policy shocks are important for labor market volatility but the ranking of their importance is sensitive to the VAR specification. The conditional correlations at business cycle frequencies are similar in response to the four shocks apart from the correlations between hours worked, labor productivity and real wages. To account for the unconditional correlations between these variables, a mixture of shocks are required.en
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.publisherEuropean University Institute
dc.relation.ispartofseriesEUI ECOen
dc.relation.ispartofseries2007/13en
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectC32en
dc.subjectE24en
dc.subjectE32en
dc.subjectE52en
dc.subjectE62en
dc.subjectStructural VARen
dc.subjectLabor market dynamicsen
dc.subjectThe Beveridge curveen
dc.titleLabor Market Dynamics and the Business Cycle: Structural Evidence for the United Statesen
dc.typeWorking Paperen
dc.neeo.contributorRAVN|Morten O.|aut|
dc.neeo.contributorSIMONELLI|Saverio|aut|
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