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monitoring and evaluation (M&E) in the policy cycle, benchmarking can be useful in three ways. First, benchmarking can help place … an outcome in the next context. Was the achievement good, bad, or indifferent? Second, benchmarking can help assess the … reasonableness of targets that may be set. Third, benchmarking can help identify specific regions or subgroups that are exceptionally …
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This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for assessing the current state of the economy as it relates to the pursuit of both price stability and maximum employment. In particular, we propose two broad categories of...
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