Time aggregation and unemployment volatility

Noritaka Kudoh () and Hiroaki Miyamoto
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Noritaka Kudoh: Nagoya University

Economics Bulletin, 2023, vol. 43, issue 2, 968 - 977

Abstract: This paper explores the importance of time aggregation for labor market fluctuations. Instead of correcting time aggregation bias in the data, we develop a simple search-matching model in which some individuals lose and find a job within a period to artificially generate the bias. The magnitude of time aggregation bias is highly procyclical. An increase in the degree of time aggregation bias is associated with a significantly lower unemployment volatility.

Keywords: worker flows; time aggregation bias; unemployment volatility. (search for similar items in EconPapers)
JEL-codes: E3 J6 (search for similar items in EconPapers)
Date: 2023-06-30
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