Inflow Composition, Duration Dependence and Their Impact on The Unemployment Outflow Rate
AbstractThis paper presents estimates of the components of the dynamics of the unemployment outflow rate with British data. We allow both the composition of the inflow and individual duration dependence to vary over the business cycle.We find the inflow composition to be strongly countercyclical. Individual exit rates are found to be substatntially more sensitive to the business cycle than previously thought and than the average exit rate fluctuations suggest. Cyclical variations in duration dependence are not significant. With our estimates, fluctuations in the average exit rate out of the first year of unemployment are mainly accounted for by variations of individual exit rates, variation of inflow composition, and variation in the inflow level combined with the duration dependence phenomenon. Copyright Blackwell Publishing Ltd, 2003.
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics and Statistics.
Volume (Year): 65 (2003)
Issue (Month): 1 (February)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0305-9049
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- Michal Franta, 2008. "Time Aggregation Bias in Discrete Time Models of Aggregate Duration Data," Working Papers 2008/10, Czech National Bank, Research Department.
- Adriaan Kalwij, 2010. "Unemployment durations and the pattern of duration dependence over the business cycle of British males," Empirical Economics, Springer, vol. 38(2), pages 429-456, April.
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