保险举报处理管理办法.ppt

Topic6:UnemploymentCHAPTERSIX

slide1ChapterobjectivesThenaturalrateofunemployment:whatitmeanswhatcausesitunderstandingitsbehaviorintherealworld

NaturalRateofUnemploymentNaturalrateofunemployment:

theaveragerateofunemploymentaroundwhichtheeconomyfluctuates.Inarecession,theactualunemploymentraterisesabovethenaturalrate.Inaboom,theactualunemploymentratefallsbelowthenaturalrate.

slide3U.S.Unemployment,1958-2002

slide4AfirstmodelofthenaturalrateNotation: L=#ofworkersinlaborforce E=#ofemployedworkers U=#ofunemployed U/L=unemploymentrate

slide5Assumptions:1. Lisexogenouslyfixed.2. Duringanygivenmonth, s=fractionofemployedworkers

thatbecomeseparatedfromtheirjobs, f=fractionofunemployedworkers

thatfindjobs.s=rateofjobseparationsf=rateofjobfinding(bothexogenous)

slide6ThetransitionsbetweenemploymentandunemploymentEmployedUnemployeds?Ef?U

slide7ThesteadystateconditionDefinition:thelabormarketisin

steadystate,orlong-runequilibrium,

iftheunemploymentrateisconstant.Thesteady-stateconditionis:s?E=f?U#ofemployedpeoplewholoseorleavetheirjobs#ofunemployedpeoplewhofindjobs

slide8Solvingforthe“equilibrium〞Uratef?U =s?E =s?(L–U) =s?L–s?USolveforU/L:(f+s)?U=s?Lso,

slide9Example:Eachmonth,1%ofemployedworkerslosetheirjobs(s=0.01)Eachmonth,19%ofunemployedworkersfindjobs(f=0.19)Findthenaturalrateofunemployment:

slide10policyimplicationApolicythataimstoreducethenaturalrateofunemploymentwillsucceedonlyifitlowerssorincreasesf.

slide11Whyisthereunemployment?Ifjobfindingwereinstantaneous(f=1),

thenallspellsofunemploymentwouldbebrief,andthenaturalratewouldbe

nearzero.Therearetworeasonswhyf1: 1.jobsearch 2.wagerigidity

slide12JobSearchFrictionalUnemploymentfrictiona