I examine whether the cyclical behavior of unemployment has changed over the post WWII period. Specifically, I test … whether cyclical movements in unemployment have become more persistent. Finding that they have, indeed, become more persistent … payroll employment as well as unemployment and that increased persistence appears to be widespread across industries. At the …

Why do more educated workers experience lower unemployment rates and lower employment volatility? A closer look at the …-specific human capital reduce the outside option of workers, implying less incentives to separate. The model generates unemployment …

Why do more educated workers experience lower unemployment rates and lower employment volatility? A closer look at the …-specific human capital reduce the outside option of workers, implying less incentives to separate. The model generates unemployment …

small businesses in the United States are one of the drivers explaining the unemployment dynamics during the Great Recession …

inflation volatility and mean unemployment rate is feasible when an asymmetric policy rule is adopted …

of unemployment. They come at the cost, however, in the form of lower wage compensation. Moreover, an externality arises …

dispersion, labor share, employment transitions, and flow value of unemployment that are simultaneously consistent with empirical …

internalize how their individual actions affect the labor market outcomes of competitors in a common unemployment pool. We provide …

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 …