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Labor Market Adjustment in Canada and the United States

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  • Alun H. Thomas
  • Eswar Prasad

Abstract

This paper provides a quantitative assessment of the relative importance of different labor market adjustment mechanisms in Canada and the United States and also examines the effects of the unemployment insurance (UI) system on labor market adjustment. At the aggregate level, employment growth shocks result in similar unemployment rate responses but smaller wage responses in Canada relative to the United States. Although overall UI generosity has increased aggregate unemployment persistence in Canada, the endogenous component of UI has affected unemployment persistence only marginally. The lower degree of aggregate real wage flexibility in Canada has not been an important determinant of unemployment persistence.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 97/2.

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Length: 24
Date of creation: 01 Jan 1997
Date of revision:
Handle: RePEc:imf:imfwpa:97/2

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References

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  1. Chan Guk Huh & Bharat Trehan, 1992. "Modelling the time series behavior of the aggregate wage rate," Working Papers in Applied Economic Theory 92-04, Federal Reserve Bank of San Francisco.
  2. Andolfatto, David & Gomme, Paul, 1996. "Unemployment insurance and labor-market activity in Canada," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 44(1), pages 47-82, June.
  3. Katharine G. Abraham & John C. Haltiwanger, 1995. "Real Wages and the Business Cycle," Journal of Economic Literature, American Economic Association, vol. 33(3), pages 1215-1264, September.
  4. David Card, 1992. "A Comparative Analysis of Unemployment in Canada and the United States," Working Papers 677, Princeton University, Department of Economics, Industrial Relations Section..
  5. Olivier Jean Blanchard & Lawrence F. Katz, 1992. "Regional Evolutions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(1), pages 1-76.
  6. Robert A. Amano & R. Tiff Macklem, 1998. "Unemployment Persistence and Costly Adjustment of Labour: A Canada-US Comparison," Canadian Public Policy, University of Toronto Press, vol. 24(s1), pages 138-151, February.
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Cited by:
  1. Mario Lefebvre, 1997. "Les marchés du travail régionaux : une comparaison entre le Canada et les États-Unis," Working Papers 97-17, Bank of Canada.
  2. Eswar Prasad & Alun Thomas, 1998. "A disaggregated analysis of employment growth fluctuations in Canada," Atlantic Economic Journal, International Atlantic Economic Society, vol. 26(3), pages 274-287, September.

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