’ transition rates from unemployment to employment.Based on Norwegian register data from the 1989-2002 period, we show that this … indicator,in contrast to the aggregate rate of unemployment, correlates well with an expost-calculated GDP-based business cycle … unemployment rate, both at an aggregate and a disaggregate level, and hence improve policy makers ability to assess current labour …

’ transition rates from unemployment to employment.Based on Norwegian register data from the 1989-2002 period, we show that this … indicator,in contrast to the aggregate rate of unemployment, correlates well with an expost-calculated GDP-based business cycle … unemployment rate, both at an aggregate and a disaggregate level, and hence improve policy makers ability to assess current labour …

where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate … increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers … (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …