State dependence in labor market fluctuations
This paper documents state dependence in labor market fluctuations. Using a Threshold Vector Autoregression model (TVAR), we establish that the unemployment rate, the job separation rate, and the job finding rate exhibit a larger response to productivity shocks during periods with low aggregate prod...
| Main Authors: | , , |
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| Format: | Working paper |
| Published: |
University of Oxford
2020
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