unemployment, and negative growth forecasting errors in a panel of 30 countries from 1960 to 2012. Consistent with the "credit …

of key variables-potential GDP, the natural rate of unemployment, and the equilibrium real interest rate, need to solve a … them. Further, low-frequency movements of unemployment suggest a failure of the basic idea that departures from the …-frequency movements of unemployment. I conclude that monetary policymakers should not try to discern neutral values of real variables …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low---often extremely low---response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …

a burst of layoffs. Unemployment rises because jobs are hard to find, not because an unusual number of people are thrown … into unemployment …

illustrate that the dynamic behavior of unemployment seems to change over the business cycle, with the unemployment rate rising …

-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical … small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate …

We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job …