that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

unemployment rates about the behavior of labor markets and the causes of joblessness are useful. …

The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in … the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are … highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment …

consistent with firms utilising part-time work to adjust their labour force to changing economic conditions. Institutions and …

The paper presents a model that allows a unified analysis of sickness absence and search unemployment. Sickness appears … benefits affect individual decisions on absence and search and the implications for employment, unemployment and …

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …