The current recession's impact on unemployment has been more pernicious than even the usual indicators show. The … credit expansion. The unemployment rate is likely to peak at 11.5 percent if today's crisis turns out to be similar to past … credit crunches. A vicious cycle with a feedback loop may continue to develop. Rising unemployment rates lead to heightened …

economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … demand and supply shocks are opposite to those of the standard case and result in a co-movement of unemployment and … explain movements of unemployment and underemployment in opposite directions. Finally, we show that uctuations in the total …

Using data on 53 countries, this paper studies the unemployment effects of the far-reaching banking liberalization that … liberalization substantially decreased unemployment, particularly among young people. The lowering of barriers to the entry of … strongest effects. There is some, albeit weak, evidence that the cutback in interest rate controls has decreased unemployment as …