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 …

macroeconomic framework to show how optimal monetary policy rules depend on labor institutions (labor adjustment costs, and nominal … those that affect the long-run unemployment rate …

, employment or unemployment. Posterior odds tests speak in favor of models with augmented Taylor rules versus a model with a model …

Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing … unemployment, requiring the implementation of structural policy reforms. The alternative view is that the slow recovery of the … economy is due to cyclic reasons coming from lack of demand which prevents unemployment from falling quickly. Knowing whether …