Changes in the structure and duration of U.S. unemployment, 1967-1998
AbstractThe unemployment rate is determined by the incidence and duration of unemployment spells. In this paper, I examine the time-series properties of unemployment incidence by reason and the duration of a typical unemployment spell. In line with earlier research, I find strong countercyclicality in unemployment. However, I also uncover an upward trend in duration that is entirely attributable to rising incidence and duration of permanent job loss. These changes in the structure and duration of unemployment have various policy implications.
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Bibliographic InfoArticle provided by Federal Reserve Bank of San Francisco in its journal Economic Review.
Volume (Year): (1998)
Issue (Month): ()
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