New Evidenceon Cyclical and Structural Sources of Unemployment

New Evidenceon Cyclical and Structural Sources of Unemployment
We provide cross-country evidence on the relative importance of cyclical and structural factors in explaining unemployment, including the sharp rise in U.S. long-term unemployment during the Great Recession of 2007-09. About 75% of the forecast error variance of unemployment is accounted for by cyclical factors-real GDP changes (?Okun's Law?),... READ MORE...

Publication date: May 2011
ISBN 9781455260416
$18.00

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