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This paper examines the usefulness of the Okun relationship as a “rule of thumb” for predicting changes in unemployment … differential reaction of unemployment to changes in the various expenditure components of GDP - significantly enhances the capacity … of the Okun relationship (in comparison to the aggregate “rule of thumb”) for predicting movements in unemployment. The …
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lower levels of liquid wealth. This supports the notion that the persistence of the unemployment shock is an important …
Persistent link: https://www.econbiz.de/10014348864
extensive labor-market margin and adds the unemployment rate to the observables. The main question we address is if these …
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, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are lose …
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