employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of …). Accordingly, the efficient unemployment rate is the geometric average of the unemployment and vacancy rates: u* = √uv. We compute …

This study documents how job seekers update perceived job-finding prospects by unemployment duration and by learning … about aggregate unemployment. We find that job seekers perceive an 18% decline in their job-finding probability for each … additional month of unemployment, but perceive a higher job-finding probability when the aggregate unemployment rate is …

, that frictions (sand-in-the-wheels) may decrease unemployment and that the equilibrium is determined by two simple …

evolution of the labor share, the profit rate, the capital/output ratio, and unemployment which we examine more particularly in …

surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment … pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any …

countries experiencing larger increases in unemployment and where credit growth during the pre-crisis period was more rapid …

employment, GDP, and unemployment. The release of resources from the housing sector lowers investment goods prices, and thereby …

unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

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