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

The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future … shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the … rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving …

and Sweden). We conduct inference with mixed frequency data, combining quarterly series for unemployment, vacancies, GDP …, consumption, and investment, with annual data on unemployment flows. Parameters and shocks are estimated separately for each … country, which can then vary in terms of search and hiring costs, workers' bargaining power, unemployment benefits levels …

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because … finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I …

It is a remarkable fact about the historical US business cycle that, after unemployment reached its peak in a recession …, and a recovery began, the annual reduction in the unemployment rate was stable at around 0.55 percentage points per year … and fiscal policy, and in productivity and labor-force growth, but little variation in the rate of decline of unemployment …

This paper investigates why the U.S. unemployment rate rose only a few percentage points despite the dramatic decline … the labor force at the end of WWII were an important part of the explanation for the small rise in the unemployment rate …