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The Relationships between Permanent and Transitory Movements in U.S. Output and the Unemployment Rate

✍ Scribed by TARA M. SINCLAIR


Book ID
109146979
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
118 KB
Volume
41
Category
Article
ISSN
0022-2879

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## Abstract This paper studies the joint dynamics of U.S. output and unemployment rate in a non‐linear VAR model. The non‐linearity is introduced through a feedback variable that endogenously augments the output lags of the VAR in recessionary phases. Sufficient conditions for the ergodicity of the