Why are recessions as deep as they are? The behaviour over time of the outflow from unemployment: a new perspective

Robert Dixon, John Freebairn and Guay Lim

Australian Journal of Labour Economics (AJLE), 2003, vol. 6, issue 1, 37-64

Abstract: This paper addresses five related questions. What are the ‘stylised facts’ about the behaviour of flows into and out of unemployment and the Unemployment Rate in Australia, especially in recessions? Why does the number of persons flowing out of Unemployment rise in recessions? How does outflow behaviour affect the severity of recessions? What has been the history of the probability of any one unemployed person exiting unemployment and what is the elasticity of this probability with respect to the Unemployment Rate? What are the consequences of our findings for the likely future severity of recessions?

Keywords: Macroeconomics; employment; Unemployment; Models (search for similar items in EconPapers)
JEL-codes: E24 J64 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: WHY ARE RECESSIONS AS DEEP AS THEY ARE? THE BEHAVIOUR OVER TIME OF THE OUTFLOW FROM UNEMPLOYMENT: A NEW PERSPECTIVE (2002)
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