The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment … unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal …

flows during the Great Recession to those during the 1981 recession, and (4) highlight the importance of looking beyond …

of these estimates is the measure of labor market slack. The traditional measure of unemployment in Korea yields an … rather than registering as unemployed. This paper discusses a way in which the measure of unemployment can be broadened to …

using macroeconomic data on employment, unemployment, participation, and (for Canada) migration and real wages. We find that …

The Great Recession pushed Japan’s unemployment rate to historic highs, but the increase has been small by …

.C from 1991 to 2008, we present econometric evidence that supports that changes in state-level unemployment rates are linked … causality going from mismatches and housing conditions to unemployment rates. The numerical estimates imply that the structural … unemployment rate in 2010 was about 13⁄4 percentage points higher than before the onset of the housing market meltdown at end-2006 …

We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with …

medium-term business cycle fluctuations in GDP, its components and the unemployment rate. Additionally, it facilitates …