175-189

• Türkyilmaz, Serpil
• Özer, Mustafa

This study analyzes the effects of various macroeconomic shocks on unemployment in Turkey by using a structural VECM model. For this purpose, firstly, the Johansen Cointegration Test has been applied to employment, real wages, productivity, prices and unemployment rate variables. The Johansen Cointegration Analysis has revealed two long run relationships which can be interpreted as a “Labor Demand” and a “Wage Setting” relation. Secondly, a Structural VECM model has been described by means of restrictions obtained from the Cointegration Analysis and theoretical model. Based on the results of the Impulse-Response Analysis of the Structural VECM model, we conclude that technology, price and labor supply shocks are significant effects on Turkish unemployment in the long run.

• Economics and Business
• Computer and information sciences

• Macroeconomics
• Employment (Economic theory)
• Statistics

the cointegration analysis, the impulse-response analysis, the structural VECM model, unemployment

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