The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment. This paper challenges what is the standard … account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to … movements in the underlying empirical "natural rate of unemployment" (NRU). Our analysis suggests that the British NRU has …