State dependence in labor market fluctuations: evidence, theory, and policy implications

This paper documents state dependence in labor market ?uctuations. Using a Threshold Vector-Autoregression model, we establish that the unemployment rate, the job separation rate and the job ?nding rate exhibit a larger response to productivity shocks during periods with low aggregate productivity....

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Bibliographic Details
Main Authors: Zanetti, F, Theodoridis, K
Format: Working paper
Published: University of Oxford 2018