to unemployment surges, as firms are forced to cutcosts when financing becomes expensive or is no longer available. As a … result, allcountries with risk premium shocks saw unemployment surge, even as euro area corecountries managed to contain … unemployment as firms hoarded labor during thedownturn. Most striking, wage bills in euro area crisis countries and the …

effective in stimulating economic activity, boosting confidence, and reducing unemployment, but their effect varies by type of …

Using newly digitized unemployment insurance claims data we construct a historical monthly unemployment series for U …-level unemployment data, which are only available from January 1976 onwards, and capture consistent patterns in the business cycle. We … use our claims-based unemployment series to examine the evolving pace of post-war unemployment recoveries at the state …

unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … unemployment rates to pre-shock levels …

This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty … the unemployment rate-varies substantially across countries. This variation is partly explained by idiosyncratic features …