Changes in the structure and duration of U.S. unemployment, 1967-1998
Abstract: The unemployment rate is determined by the incidence and duration of unemployment spells. In this paper, I examine the time-series properties of unemployment incidence by reason and the duration of a typical unemployment spell. In line with earlier research, I find strong countercyclicality in unemployment. However, I also uncover an upward trend in duration that is entirely attributable to rising incidence and duration of permanent job loss. These changes in the structure and duration of unemployment have various policy implications.
File(s): File format is application/pdf http://www.frbsf.org/econrsrch/econrev/98-3/29-40.pdf
Provider: Federal Reserve Bank of San Francisco
Part of Series: Economic Review
Publication Date: 1998
Order Number: 3