Micro vs macro explanations of post-war US unemployment movements

Chris Heaton, Paul Oslington*

*Corresponding author for this work

Research output: Contribution to journalArticle

1 Citation (Scopus)
1 Downloads (Pure)


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.

Original languageEnglish
Pages (from-to)87-91
Number of pages5
JournalEconomics Letters
Issue number2
Publication statusPublished - Feb 2010

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