In this paper, we shed light on the relative contribution of the separation and job finding rates to French unemployment at business cycle frequencies by using administrative data on registered unemployment and labor force surveys. We first investigate the fluctuations in steady state unemployment, and then in current unemployment in order to take into account the unemployment deviations from equilibrium. Both data sets lead to quite similar results. Both rates contributed to unemployment fluctuations during the nineties (50:50 split), while in the last decade the job finding rate was more significant and explained around 65% of the French unemployment fluctuations. In particular, the last business cycle episode, including the last recession, exacerbated the role of the job finding rate. We then show that the predominant role of the job finding rate in the last decade holds when the economy is hit by aggregate business cycle shocks, moving unemployment and vacancies along the Beveridge curve.

The cyclicality of the separation and job finding rates in France

Le Barbanchon, Thomas Emile Robert;
2015

Abstract

In this paper, we shed light on the relative contribution of the separation and job finding rates to French unemployment at business cycle frequencies by using administrative data on registered unemployment and labor force surveys. We first investigate the fluctuations in steady state unemployment, and then in current unemployment in order to take into account the unemployment deviations from equilibrium. Both data sets lead to quite similar results. Both rates contributed to unemployment fluctuations during the nineties (50:50 split), while in the last decade the job finding rate was more significant and explained around 65% of the French unemployment fluctuations. In particular, the last business cycle episode, including the last recession, exacerbated the role of the job finding rate. We then show that the predominant role of the job finding rate in the last decade holds when the economy is hit by aggregate business cycle shocks, moving unemployment and vacancies along the Beveridge curve.
2015
2015
Hairault, Jean Olivier; Le Barbanchon, Thomas Emile Robert; Sopraseuth, Thepthida
File in questo prodotto:
File Dimensione Formato  
pub_art_Uvolatility_EER_2015.pdf

non disponibili

Tipologia: Pdf editoriale (Publisher's layout)
Licenza: NON PUBBLICO - Accesso privato/ristretto
Dimensione 1.42 MB
Formato Adobe PDF
1.42 MB Adobe PDF   Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/3984739
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 20
  • ???jsp.display-item.citation.isi??? 20
social impact