Can a matching model explain the long-run increase in Canada's unemployment rate?

Andreas Hornstein and Mingwei Yuan

No 98-02, Working Paper from Federal Reserve Bank of Richmond

Abstract: We construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation and destruction are endogenous. In this model, we consider several potential factors which could contribute to the long-run increase in the Canadian unemployment rate: a more generous unemployment insurance system, higher layoff costs, higher distortionary taxes, and a slower rate of productivity growth. We find that in the model economy the impact of all of these factors on the unemployment rate is small.

Keywords: Unemployment; Econometric models (search for similar items in EconPapers)
Date: 1998
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Related works:
Journal Article: Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate? (1999)
Working Paper: Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate? (1998)
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