Monetary Policy Committee (MPC) to both unemployment and underemployment, which in our view are invalid. Without any evidence … the MPC in its assessment of the output gap reduces the level of unemployment because of its claim that long …-term unemployment has no effect on wages. We produce contrary evidence. The MPC further reduces the level of underemployment in the …

unemployment rate) and the labor force participation rate. This paper proposes an adjustment to the calculation of the EPOP using …

. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

unemployment rate) and the labor force participation rate. This paper proposes an adjustment to the calculation of the EPOP using …

. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary …

application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary …

A provocative paper by Shimer (2001) finds that state-level youth shares and unemployment rates are negatively … unemployment are positive and close to what a conventional model would imply. Unfortunately, the standard errors remain very large …

: the large differences in unemployment risk across worker age-groups over the business cycle. Our search model features a … large real effects through firms' labor policies. Our model predicts higher unemployment risk of younger workers relative to …

This paper introduces the age structure of the population into the analysis of medium term unemployment swings. We … incorporate age-related features into the Shapiro-Stiglitz shirking model and find that the observed age pattern of unemployment … particular the ageing of the baby-boom generation - has caused OECD wide unemployment to be 50 basis points lower than what it …