THE UNEMPLOYMENT RATE WHEN THE LABOUR MARKET IS MODELLED BY A MARKOV CHAIN

Fima C. Klebaner

doi:10.1111/j.1467-842X.1988.tb00848.x

THE UNEMPLOYMENT RATE WHEN THE LABOUR MARKET IS MODELLED BY A MARKOV CHAIN

Fima C. Klebaner

School of Mathematics

Research output: Contribution to journal › Article › Research › peer-review

Abstract

Assuming a Markov chain model for the labour market flow, we study it in its equilibrium state, We compare the observed and the theoretical unemployment rates. It is found that the observed unemployment rate approximates very closely the theoretical one. The mean and variance of the observed unemployment rate are computed. It is shown that its asymptotic distribution is normal.

Original language	English
Pages (from-to)	183-188
Number of pages	6
Journal	Australian Journal of Statistics
Volume	30
Issue number	2
DOIs	https://doi.org/10.1111/j.1467-842X.1988.tb00848.x
Publication status	Published - 1 Jan 1988

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THE UNEMPLOYMENT RATE WHEN THE LABOUR MARKET IS MODELLED BY A MARKOV CHAIN

Abstract

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