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The Beveridge Curve and Unemployment Fluctuations in Canada

Richard Archambault

出版	Human Resources Development Canada, Strategic Policy, Applied Research Branch, 1998
URL	http://books.google.com.hk/books?id=1krnwAEACAAJ&hl=&source=gbs_api

註釋

This study applies the methodology developed by Blanchard & Diamond (1989) for decomposing unemployment fluctuations stemming from aggregate economic activity shocks, reallocation shocks, & participation rate shocks. A structural vector autoregressive model with error correction is estimated on employment, labour force, and a vacancies proxy. The results presented demonstrate whether vacancies alone react to the labour market imbalance, whether this is the only variable that introduces an error correction dynamic, and the role of this variable in absorbing disequilibrium. The historical decomposition of structural shocks reveals the relative effect of cyclical shocks, variations in the participation rate, and sectoral reallocation shocks on the unemployment rates.