increasing unemployment, and that the effects of industrial restructuring were even greater during the economic downturn. In …

extended unemployment (U6 and the underemployed), main determinants of real marginal cost (real wage, unit labor cost, and … labor share of income), and some labor-flow indicators (Shimer's (2012) conditional steady-state unemployment, BSI (labor … the official unemployment rate, do not improve the model's forecasting performance significantly when compared with the …