Micro vs macro explanations of post-war US unemployment movements

Chris Heaton; Paul Oslington

doi:10.1016/j.econlet.2009.10.009

Micro vs macro explanations of post-war US unemployment movements

Chris Heaton, Paul Oslington^*

^*Corresponding author for this work

Department of Economics

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

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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.

Original language	English
Pages (from-to)	87-91
Number of pages	5
Journal	Economics Letters
Volume	106
Issue number	2
DOIs	https://doi.org/10.1016/j.econlet.2009.10.009
Publication status	Published - Feb 2010

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title = "Micro vs macro explanations of post-war US unemployment movements",

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.",

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Micro vs macro explanations of post-war US unemployment movements

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