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Ins and Outs of the Long-Run Unemployment Dynamics

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Abstract

This paper studies the contribution of inflow and outflow rates to the unemployment dynamics in the long-run. I find that in the U.S., both inflow and outflow rates contribute significantly to variation in the long-run trend of the unemployment rate. Inflow and outflow rates account for roughly similar proportions of overall unemployment variability in the long-run.

Suggested Citation

  • Hiroaki Miyamoto, 2011. "Ins and Outs of the Long-Run Unemployment Dynamics," Working Papers EMS_2011_07, Research Institute, International University of Japan.
    • Handle: RePEc:iuj:wpaper:ems_2011_07
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    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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