We describe the size and timing for comprehensive as well as decomposed measures of unemployment. We then test for and confirm a change in the structural rate of unemployment by finding structural breaks in the Okun and Beveridge relations. Finally, we employ existing empirical models to examine the contributions of exogenous factors to the changes in the structural unemployment rate. We present separate estimates for the mid-1990s, late 1990s and early 2000s. They indicate that the structural rate has decreased in both countries, but has not returned to the levels of the 1980s.
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Paper provided by Lund University, Department of Economics in its series Working Papers with number
2008:14.
Length: 49 pages Date of creation: 19 Sep 2008 Date of revision: Handle: RePEc:hhs:lunewp:2008_014
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Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
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