The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in … the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are … highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment …

unemployment rates are studied. Applying a range of unit-root tests to monthly data from Australia, Austria, Canada, Finland …, Sweden, the U.K. and the U.S., we find results for employment rates that contrast those based on unemployment rates. In … particular, rather than the mixed evidence for hysteresis found using unemployment rates, employment rates result in unequivocal …

In this paper, we analyse Okun's law - a relation between the change in the unemployment rate and GDP growth - using … fruitful. In terms of dynamic effects, a shock to GDP growth has robustly negative effects on the change in the unemployment …

inflation and the unemployment rate under a number of different assumptions concerning the dynamics and covariance matrix … unemployment rate on inflation is not fundamentally different over time. Finally, a conditional forecasting exercise suggests that …

We use Bayesian techniques to estimate bivariate VAR models for Swedish unemployment rate and inflation. Employing …

In this paper, we evaluate households' directional forecasts of inflation and the unemployment rate in Sweden. The … forecast where the unem-ployment is headed, but they fail in predicting the direction of future inflation. …