Unemployment recoveries in the US have been inexorable. It is a remarkable fact that, prior to 2020, after unemployment … reached its peak in a recession, and a recovery began, the annual reduction in the unemployment rate was stable at around 0 … crisis intervenes, unemployment continues to glide down to its minimum level of approximately 3.5 percentage points. The …

We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people ….e., unemployment is 'involuntary'). We integrate our model of involuntary unemployment into the simple New Keynesian framework with no … capital and use the resulting model to discuss the concept of the 'non-accelerating inflation rate of unemployment'. We then …

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 …

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 …

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

claims on business income also rise. According to the leading view of unemployment-the Diamond-Mortensen-Pissarides model …-when the incentive for job creation falls, the labor market slackens and unemployment rises. Employers recover their … when the discount rate rises. Thus high discount rates imply high unemployment. This paper does not explain why the …

unemployment benefits …