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Labor market and natural rate of unemployment in US and Canadian time series analysis

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  • Josheski, Dushko
  • Lazarov, Darko

Abstract

Canadian labor market data are being used in this paper. These series are quarterly data from 1980 Q1 to 2000 Q4. This series are stationary by test for cointegration I(0), meaning that there exist equilibrium relationship between the time series labour productivity (prod), employment (e), unemployment rate (U), real wages (rw).This notion was definitively confirmed with VEC model. VEC model shows long run coefficient, and if the system is in disequilibrium , alteration of the variables will only be -0.003 for real wages or -0.3%, -0.001 for unemployment or -0.1%, -0.000 for productivity or -0%,and -0% for employment. This means that Canadian labour market is in equilibrium working at natural rate of unemployment and by equilibrium wages.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 34685.

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Date of creation: 14 Nov 2011
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Handle: RePEc:pra:mprapa:34685

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Keywords: employment; real wages; labour productivity; VAR ; VECM;

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  1. Steven J. Davis & R. Jason Faberman & John Haltiwanger, 2006. "The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 3-26, Summer.
  2. L├╝tkepohl, Helmut & POSKITT, D.S., 1996. "Testing for Causation Using Infinite Order Vector Autoregressive Processes," Econometric Theory, Cambridge University Press, vol. 12(01), pages 61-87, March.
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