This paper studies the dynamics of unemployment (u) and its natural rate (u*), with u* measured by real-time estimates …

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment … is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for …

This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty … the unemployment rate - varies substantially across countries. This variation is partly explained by idiosyncratic …

This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the … determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural … unemployment over time, finding that they are caused by contractions in aggregate demand. These demand contractions result from …