Hobijn, Bart; Şahin, Ayşegül - National Bureau of Economic Research - 2021
.e., the participation cycle, which are important for the implementation of the maximum employment mandate. We show that these … decomposition reveals that the source of the participation cycle is fluctuations in job-loss and job-finding rates, rather than … cyclical movements in labor force entry and exit rates. The magnitude of the participation cycle is large. Cyclical downward …