Modelling Asymmetric Unemployment Dynamics: The Logarithmic-Harmonic Potential Approach
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DOI: 10.3390/e24030400
Abstract: Asymmetric behaviour has been documented in unemployment rates which increase quickly in recessions but decline relatively slowly during expansions. To model such asymmetric dynamics, this paper provides a rigorous derivation of the asymmetric mean-reverting fundamental… read more here.
Keywords: harmonic potential; logarithmic harmonic; fundamental dynamics; unemployment ... See more keywords