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Structural unemployment: Analysis of...

Koryukin, Leonid A.

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Structural unemployment: Analysis of determinants and selected estimation issues.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Structural unemployment: Analysis of determinants and selected estimation issues./
Author:	Koryukin, Leonid A.
Description:	184 p.
Notes:	Source: Dissertation Abstracts International, Volume: 64-08, Section: A, page: 2995.
Contained By:	Dissertation Abstracts International64-08A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3100100

Structural unemployment: Analysis of determinants and selected estimation issues.
Koryukin, Leonid A.

Structural unemployment: Analysis of determinants and selected estimation issues. - 184 p.

Source: Dissertation Abstracts International, Volume: 64-08, Section: A, page: 2995.

Thesis (Ph.D.)--University of Delaware, 2003.

This dissertation studies the determinants of the natural (structural) rate of unemployment (NRU) as well as suggests ways to improve NRU estimation techniques. It complements the extensive recent research aimed at explaining the persistence of the high unemployment in Europe in the eighties and the nineties and addresses two issues. First, the study extends the existing research to shed more light on the determinants of the structural unemployment in 20 OECD countries. The commonly used non-linear regression in which shocks and institutions interact is utilized. The standard variable set serves as a benchmark. Additional variables are then identified that significantly improve the ability of the regression to explain the evolution of the structural unemployment over the last several decades. These variables include government size, government indebtedness, demographic indicators, and measures of trade openness and output structure. The study strongly supports the Abrams curve hypothesis that larger governments are associated with higher structural unemployment. Second, the study suggests improvements to the existing techniques for estimating the NRU itself. Specifically, it points at the necessity to account for active policies that systematically destroy the observed correlation between unemployment and changes in inflation---such as the inflation targeting that major countries have long been exercising. The standard NRU estimation methods ignore these policy effects and advocate estimating the NRU from regressions in which the correlation between unemployment and changes in inflation plays a key role. This is likely to result in imprecise and biased estimates of the NRU. This study suggests correcting the existing techniques by explicitly accounting for the policy reaction function(s) within a simple general equilibrium framework. Empirical implementation is left for future research.Subjects--Topical Terms:

1017424
Economics, General.

Structural unemployment: Analysis of determinants and selected estimation issues.
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100 1 $a Koryukin, Leonid A. $3 1950553
245 1 0 $a Structural unemployment: Analysis of determinants and selected estimation issues.
300 $a 184 p.
500 $a Source: Dissertation Abstracts International, Volume: 64-08, Section: A, page: 2995.
500 $a Professor in charge: Burton A. Abrams.
502 $a Thesis (Ph.D.)--University of Delaware, 2003.
520 $a This dissertation studies the determinants of the natural (structural) rate of unemployment (NRU) as well as suggests ways to improve NRU estimation techniques. It complements the extensive recent research aimed at explaining the persistence of the high unemployment in Europe in the eighties and the nineties and addresses two issues. First, the study extends the existing research to shed more light on the determinants of the structural unemployment in 20 OECD countries. The commonly used non-linear regression in which shocks and institutions interact is utilized. The standard variable set serves as a benchmark. Additional variables are then identified that significantly improve the ability of the regression to explain the evolution of the structural unemployment over the last several decades. These variables include government size, government indebtedness, demographic indicators, and measures of trade openness and output structure. The study strongly supports the Abrams curve hypothesis that larger governments are associated with higher structural unemployment. Second, the study suggests improvements to the existing techniques for estimating the NRU itself. Specifically, it points at the necessity to account for active policies that systematically destroy the observed correlation between unemployment and changes in inflation---such as the inflation targeting that major countries have long been exercising. The standard NRU estimation methods ignore these policy effects and advocate estimating the NRU from regressions in which the correlation between unemployment and changes in inflation plays a key role. This is likely to result in imprecise and biased estimates of the NRU. This study suggests correcting the existing techniques by explicitly accounting for the policy reaction function(s) within a simple general equilibrium framework. Empirical implementation is left for future research.
590 $a School code: 0060.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Labor. $3 1019135
650 4 $a Economics, Theory. $3 1017575
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710 2 0 $a University of Delaware. $3 1017826
773 0 $t Dissertation Abstracts International $g 64-08A.
790 1 0 $a Abrams, Burton A., $e advisor
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791 $a Ph.D.
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856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3100100