Name: International Finance Discussion Papers: What Drives Movements in the Unemployment Rate? a Decomposition of the Beveridge Curve (en Inglés)
Price: 102833.00 COP
Availability: InStock
Author: Barnichon, Regis ; Figura, Andrew ; United States Federal Reserve Board
ISBN: 9781288704231

portada International Finance Discussion Papers: What Drives Movements in the Unemployment Rate? a Decomposition of the Beveridge Curve (en Inglés)

Formato

Libro Físico

Autor

United States Federal Reserve Board

Regis Barnichon

Andrew Figura

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6 x 18.9 x 0.2 cm

Peso

0.09 kg.

ISBN13

9781288704231

Categorías

Política y gobierno

International Finance Discussion Papers: What Drives Movements in the Unemployment Rate? a Decomposition of the Beveridge Curve (en Inglés)

United States Federal Reserve Board (Autor) · Regis Barnichon (Autor) · Andrew Figura (Autor) · Bibliogov · Tapa Blanda

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Reseña del libro "International Finance Discussion Papers: What Drives Movements in the Unemployment Rate? a Decomposition of the Beveridge Curve (en Inglés)"

This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations. We decompose the unemployment rate into three main components: (1) a component driven by changes in labor demand--movements along the Beveridge curve and shifts in the Beveridge curve due to layoffs--(2) a component driven by changes in labor supply--shifts in the Beveridge curve due to quits, movements in-and-out of the labor force and demographics--and (3) a component driven by changes in the efficiency of matching unemployed workers to jobs. We find that cyclical movements in unemployment are dominated by changes in labor demand, but that changes in labor supply due to movements in-and-out of the labor force also play an important role. Further, cyclical changes in labor demand lead cyclical changes in labor supply. Changes in matching efficiency generally play a small role but can decline substantially in recessions. At low-frequencies, labor demand displays no trend, and changes in labor supply explain virtually all of the secular trend in unemployment since 1976.