Micro vs macro explanations of post-war US unemployment movements

Chris Heaton and Paul Oslington

Economics Letters, 2010, vol. 106, issue 2, 87-91

Abstract: This paper considers contributions of industry-sectoral-micro shocks vs aggregate macro shocks. A dynamic factor model is estimated with maximum likelihood method in the frequency domain, and decomposes US unemployment movements into industry sectoral and common components. Sectoral shocks account for around half unemployment movements.

Keywords: Structural; unemployment; Sectoral; vs; aggregate; shocks; Dynamic; factor; analysis (search for similar items in EconPapers)
Date: 2010
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Working Paper: Micro Vs Macro Explanations of Post-War US Unemployment Movements (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:106:y:2010:i:2:p:87-91

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