The Great Recession pushed Japan’s unemployment rate to historic highs, but the increase has been small by … international standards and small relative to the large output shock. This paper explores Japan’s cyclical labor market response to …

that this may have contributed to more elastic aggregate supply in recent years, which is consistent with lower inflation …

The negative and stable relationship between an economy's aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …

This paper provides an assessment of the consistency of unemployment and output forecasts. We show that, consistent … with Okun’s Law, forecasts of real GDP growth and the change in unemployment are negatively correlated. The Okun … coefficient—the responsiveness of unemployment to growth—from forecasts is fairly similar to that in the data for various …

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 features …

commodity boom period led to important gains in employment and a fall in the unemployment rate as labor demand outpaced an …-examination of Okun's law shows that informality dampens changes in unemployment accompanying output fluctuations. Moreover, we …