Ins and Outs of the Long-Run Unemployment Dy- namics
نویسنده
چکیده
This paper studies the contribution of inow and outow rates to the unemployment dynamics in the long-run. I nd that in the U.S., both inow and outow rates contribute signi cantly to variation in the long-run trend of the unemployment rate. Inow and outow rates account for roughly similar proportions of overall unemployment variability in the long-run. Keywords: Unemployment dynamics; Job nding rate; Separation rate; Long-run unemployment JEL classi cation: E24; J64 Corresponding Address: Hiroaki Miyamoto, [email protected], 777 Kokusai-cho, Minami Uonuma-shi, Niigata 949-7277 JAPAN, TEL., +81-25-779-1464, FAX., +81-25-779-1187.
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