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 …

This paper draws on household survey data from countries of all income levels to measure how average unemployment rates … vary with income per capita. We document that unemployment is increasing with GDP per capita. Furthermore, we show that … this fact is accounted for almost entirely by low-educated workers, whose unemployment rates are strongly increasing in GDP …

In recessions, unemployment increases despite the—perhaps counterintuitive—fact that thenumber of unemployed workers … finding jobs expands. On net, unemployment rises only becauseeven more workers lose their jobs. We propose a theory of … unemployment fluctuations resting onthis countercyclicality of gross flows from unemployment into employment. In recessions …

. Furthermore, they fail to allow for quantity rationing and to model unemployment as a catastrophic event. The macroeconomics based …

while revisions of trend labor, mainly driven by revisions of the non-accelerating wage rate of unemployment (NAWRU), are …