Employment growth: cyclical movements or structural change?
In judging the degree of slack in the economy, policymakers must determine the origin of any increase in the unemployment rate—specifically, how much of it is due to a cyclical slowdown (driven by the broader economy) as opposed to a structural realignment in production (driven by a shift in production from declining industries to expanding ones). The model developed in this article provides some insight into the sources and magnitude of structural change and its impact on the unemployment rate.
Volume (Year): (2009)
Issue (Month): Q IV ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1.
- Rissman, Ellen R., 1993.
"Wage growth and sectoral shifts : Phillips curve redux,"
Journal of Monetary Economics,
Elsevier, vol. 31(3), pages 395-416, June.
- Ellen R. Rissman, 1992. "Wage growth and sectoral shifts: Phillips curve redux," Working Paper Series, Macroeconomic Issues 92-23, Federal Reserve Bank of Chicago.