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Entrepreneurship is essential for a healthy labor market. Recent evidence shows that young businesses (at most ten years old) have, on average, accounted for all of US employment growth over the past few decades. New businesses are especially important for youth employment. However, these...
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stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment … the rise in trend unemployment in Germany in the 1980s or for a possible rise in trend unemployment in the United States … following the Great Recession. -- Sectoral shifts ; reallocation ; natural rate ; unemployment ; turbulence ; stochastic …
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, employment fell and unemployment rose for newly legalized men relative to the comparison group of already legal U.S. residents … amnesty on the legalized population relative to a comparison group. After the implementation of the amnesty program …
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