Natural and cyclical unemployment: A stochastic frontier decomposition and economic policy implications
Ángel L. Martín‐Román,
Jaime Cuéllar‐Martín and
Alfonso Moral
Authors registered in the RePEc Author Service: Ángel Luis Martín-Román ()
Bulletin of Economic Research, 2023, vol. 75, issue 1, 5-39
Abstract:
This work splits effective unemployment into two components: natural unemployment, and cyclical unemployment. For that purpose, an estimation of the stochastic cost frontier is performed. The study is focused on the 17 autonomous communities in Spain over the period 1982–2012. Results evidence greater importance of the natural component as the principal determinant of effective unemployment. When comparing these results with those obtained applying univariate filters, the distribution in the components of the effective unemployment changes, increasing the importance of cyclical unemployment. This result indicates that the policymakers should have a greater power to implement aggregate demand policies.
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://doi.org/10.1111/boer.12335
Related works:
Working Paper: Natural and cyclical unemployment: a stochastic frontier decomposition and economic policy implications (2017) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:buecrs:v:75:y:2023:i:1:p:5-39
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0307-3378
Access Statistics for this article
More articles in Bulletin of Economic Research from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().