downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …

employment, informal employment, unemployment, and nonparticipation. We compute the contribution of each transition rate to … fluctuations in unemployment and informality rates. We identify five stylized facts: (i) Nearly 40% of the fluctuations in the … unemployment rate involves unemployment ins and outs from/to informal jobs. (ii) More than 40% of the fluctuations in informality …

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

This paper investigates the impacts of the economic shock caused by the COVID-19 pandemic on the employment of … countries suggest that following the initial shock at the start of the pandemic, employment rates partially recovered between …