Ins and outs of the long-run unemployment dynamics
This article studies the contribution of inflow and outflow rates to the unemployment dynamics in the long-run. I find that both inflow and outflow rates contribute significantly to variation in the long-run trend in the unemployment rate in both the United States and Japan. In the United States, the inflow and outflow rates account for roughly similar proportions of overall unemployment variability in the long run. On the other hand, in Japan, the inflow rate accounts for much of unemployment variation in the long run, and the contribution of the inflow rate to overall unemployment fluctuation is around 62%.
Volume (Year): 20 (2013)
Issue (Month): 7 (May)
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