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The Recent Evolution of the Natural Rate of Unemployment
equilibrium unemployment Beveridge curve structural unemployment mismatch
2012/10/26
The U.S. economy is recovering from the financial crisis and ensuing deep recession, but the unemployment rate has remained stubbornly high. Some have argued that the persistent elevation of unemploym...
Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment
Unemployment natural rate hypothesis labour markets employment
2013/10/17
This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirica...