Hobijn, Bart; Şahin, Ayşegül - National Bureau of Economic Research - 2021
.e., the participation cycle, which are important for the implementation of the maximum employment mandate. We show that these … pressures on employment from participation are two-thirds that of unemployment. Moreover, the participation cycle delays the … recovery in employment because it lags the unemployment cycle. It also amplifies the unevenness of the impact of recessions …