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|z 9781455260416
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|a Chen, Jinzhu.
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|a New Evidenceon Cyclical and Structural Sources of Unemployment /
|c Jinzhu Chen, Bharat Trehan, Prakash Kannan, Prakash Loungani.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2011.
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|a 1 online resource (42 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We provide cross-country evidence on the relative importance of cyclical and structural factors in explaining unemployment, including the sharp rise in U.S. long-term unemployment during the Great Recession of 2007-09. About 75% of the forecast error variance of unemployment is accounted for by cyclical factors-real GDP changes (?Okun's Law?), monetary and fiscal policies, and the uncertainty effects emphasized by Bloom (2009). Structural factors, which we measure using the dispersion of industry-level stock returns, account for the remaining 25 percent. For U.S. long-term unemployment the split between cyclical and structural factors is closer to 60-40, including during the Great Recession.
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|a Mode of access: Internet
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|a Kannan, Prakash.
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|a Loungani, Prakash.
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|a Trehan, Bharat.
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|a IMF Working Papers; Working Paper ;
|v No. 2011/106
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2011/106/001.2011.issue-106-en.xml
|z IMF e-Library
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