This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations. We … decompose the unemployment rate into three main components: (1) a component driven by changes in labor demand – movements along … driven by changes in the efficiency of matching unemployed workers to jobs. We find that cyclical movements in unemployment …

unemployment and its duration distribution. Using the SIPP, we document the relation between workers' (gross and net) occupational … mobility and unemployment duration over the long run and business cycle. To interpret this evidence, we develop an analytically … countercyclical net occupational mobility, the large volatility of unemployment and the cyclical properties of the unemployment …

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the … coefficients are proportional to the aggregate in all four countries. We also show that the standard deviation of unemployment is …

higher wages. This increases firms' incentives to post more vacancies, which makes unemployment volatile and sensitive to … aggregate shocks. The model is robust to two major criticisms of existing theories of sluggish wages and volatile unemployment … explains 70% of unemployment volatility …

institutional determinants, especially labor-market institutions, on migrants' choices. Based on a large data set constructed from … immigrant networks and negative effects of unemployment rates. In addition, we find that employment protection, union coverage … and unemployment benefits have positive effects on migration. Also good education and health systems tend to attract …

We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration … more stringent labor market institutions attenuate both fiscal spending multipliers and macroeconomic volatility. This is … emanate from employment protection, followed by union density. While some labor market institutions mitigate the …