.C from 1991 to 2008, we present econometric evidence that supports that changes in state-level unemployment rates are linked … causality going from mismatches and housing conditions to unemployment rates. The numerical estimates imply that the structural … unemployment rate in 2010 was about 1¾ percentage points higher than before the onset of the housing market meltdown at end-2006 …

unemployment, including the sharp rise in U.S. long-term unemployment during the Great Recession of 2007-09. About 75% of the … forecast error variance of unemployment is accounted for by cyclical factors-real GDP changes (?Okun‘s Law?), monetary and … dispersion of industry-level stock returns, account for the remaining 25 percent. For U.S. long-term unemployment the split …

-term unemployment rate (which would raise equilibrium unemployment rates). However, over the medium term, we expect Canada's potential …