Celebrating humanity's flourishing through the spread of capitalism and the rule of law
26 Nov 2015 2 Comments
in economic history, job search and matching, labour economics, unemployment
I can’t think of a charitable explanation of why the equilibrium unemployment rate is so stable in the USA and yet tracks actual unemployment with a bit of a lag in the UK. There is a large literature showing that the equilibrium unemployment rate in the USA has gone up and down quite significantly if only for demographic reasons related to the baby boomers passing through the workforce in large numbers in the 70s.
Source: OECD Stat and OECD Economic Outlook November 2015.
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Nov 26, 2015 @ 22:29:39
Reblogged this on perfectlyfadeddelusions.
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