Cyclical Unemployment Structural Unemployment
Name
Diamond13-05.pdf
Size
8.78 MB
Format
Adobe PDF
Checksum (MD5)
eb8b29f9b66d941d68becbc4650b6938
Author(s)
Diamond, Peter
Date Issued
January 15, 2013
Publisher
Cambridge, MA: Department of Economics, Massachusetts Institute of Technology
Series/Report no.
Working paper, Massachusetts Institute of Technology, Dept. of Economics;13-05
Abstract
Whenever unemployment stays high for an extended period, it is common to see analyses, statements, and rebuttals about the extent to which the high unemployment is structural, not cyclical. This essay views the Beveridge Curve pattern of unemployment and vacancy rates and the related matching function as proxies for the functioning of the labor market and explores issues in that proxy relationship that complicate such analyses. Also discussed is the concept of mismatch.
Subjects
Unemployment
vacancies
Beveridge Curve
matching function
stimulus policy
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