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The past recession has hit the labor market especially hard, and economists are wondering whether some fundamentals of the market have changed because of that blow. Many are suggesting that the natural rate of long-term unemployment—the level of unemployment an economy can’t go below—has...
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Severe simultaneous recessions are de?ned to occur when at least half of the countries under investigation (Australia … that extend upon stylized facts for US recessions. One, are the occurrences of simultaneous recessions predictable? Two …, does the yield spread predict future occurrences of simultaneous recessions? I use the indicator for severe simultaneous …
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