of job losses, suggesting that unemployment typically comes as a surprise. …

of job losses, suggesting that unemployment typically comes as a surprise. …

The results of previous research suggest that the elasticity of employment with respect to output is not constant … almost non-existent. Using the unemployment gap as the proxy for the maturity of the business cycle phase, this paper seeks … vulnerable to jobless growth. Our specification is based on the employment version of Okun's law, and estimates are provided for …

performance. Our analysis has two special features. First, apart from the two labour market states - employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in … interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market …