This short note emphasizes and illustrates two basic points: (1) The private costs of unemployment, i.e., the costs … cause of the permanently high unemployment rate in the United States. (2) The social costs of unemployment, i.e., the costs … of unemployment to the nation as a whole regardless of how they are distributed, must be judged by considering the …

One of the strongest trends in recent macroeconomic modeling of labor market fluctuations is to treat unemployment … Unemployment," i.e., the extent to which increased unemployment during a recession arises from an increase in the number of … unemployment spells versus an increase in their duration. After broadly reviewing the previous literature, we replicate and extend …

unemployment and that rising homeownership in OECD countries since the 1960s provides a key explanation for the rise in the natural … rate of unemployment over the same time period. Recent tests of the Oswald thesis have found the opposite. This study … (private, public, and rent-free) and by examining data from Australia, rather than the U.S. We demonstrate that the recent anti …

This paper accounts for the observed increase in unemployment duration relative to the unemployment rate in the U ….S. over the past thirty years, typified by the record low level of short-term unemployment. We show that part of the increase … remaining increase in unemployment duration relative to the unemployment rate is concentrated among women, whose unemployment …

unemployment-inflation tradeoff since 1995 …

A search-theoretic general equilibrium model of frictional unemployment is shown to be consistent with some of the key … regularities of unemployment over the business cycle. In the model the return to a job moves stochastically. Agents can choose … unemployment …

This paper investigates the precision of conventional and unconventional estimates of the natural rate of unemployment … series for unemployment and inflation, including additional supply shift variables in the Phillips curve, using monthly or …

Unemployment Insurance system to measure the effects of imperfect experience-rating on temporary layoffs and other types of … unemployment. We find a strong negative association between the degree of experience-rating and the rate of temporary layoff … unemployment, with the largest effect in recessionary years and the smallest effect in expansionary years. Increases in the degree …