This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession …

unemployment, and negative growth forecasting errors in a panel of 30 countries from 1960 to 2012. Consistent with the “credit …

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the … coefficients are proportional to the aggregate in all four countries. We also show that the standard deviation of unemployment is …

neutral levels of key variables-potential GDP, the natural rate of unemployment, and the equilibrium real interest rate, need … actual data to find them. Further, low-frequency movements of unemployment suggest a failure of the basic idea that … low-frequency movements of unemployment. I conclude that monetary policymakers should not try to discern neutral values of …

monetary policy. It covers several major macro-economic quantities, including unemployment rate, GDP, and weekly payrolls in … natural rate of unemployment and GDP growth comes out of the model naturally. An optimization framework is proposed to … first-order analytic solution is derived. We find that FED's interest rate policy has leaned heavily on the unemployment …

An increase in the household debt to GDP ratio predicts lower GDP growth and higher unemployment in the medium run for …