保险举报处理管理办法CreateTime

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1、Topic6:UnemploymentCHAPTERSIXslide1ChapterobjectivesThenaturalrateofunemployment:whatitmeanswhatcausesitunderstandingitsbehaviorintherealworldNaturalRateofUnemploymentNaturalrateofunemployment:theaveragerateofunemploymentaroundwhichtheeconomyfluctuates.Inarecession,

2、theactualunemploymentraterisesabovethenaturalrate.Inaboom,theactualunemploymentratefallsbelowthenaturalrate.slide3U.S.Unemployment,1958-2002slide4AfirstmodelofthenaturalrateNotation:L=#ofworkersinlaborforceE=#ofemployedworkersU=#ofunemployedU/L=unemploymentrateslide5

3、Assumptions:1.Lisexogenouslyfixed.2.Duringanygivenmonth,s=fractionofemployedworkersthatbecomeseparatedfromtheirjobs,f=fractionofunemployedworkersthatfindjobs.s=rateofjobseparationsf=rateofjobfinding(bothexogenous)slide6Thetransitionsbetweenemploymentandunemployment

4、EmployedUnemployedsEfUslide7ThesteadystateconditionDefinition:thelabormarketisinsteadystate,orlong-runequilibrium,iftheunemploymentrateisconstant.Thesteady-stateconditionis:sE=fU#ofemployedpeoplewholoseorleavetheirjobs#ofunemployedpeoplewhofindjobsslide8Solvingf

5、orthe“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:slide10policyimplicationApolicythataimstoreducethe

6、naturalrateofunemploymentwillsucceedonlyifitlowerssorincreasesf.slide11Whyisthereunemployment?Ifjobfindingwereinstantaneous(f=1),thenallspellsofunemploymentwouldbebrief,andthenaturalratewouldbenearzero.Therearetworeasonswhyf<1:1.jobsearch2.wagerigidityslide12JobSea

7、rch&FrictionalUnemploymentfrictionalunemployment:causedbythetimeittakesworkerstosearchforajoboccursevenwhenwagesareflexibleandthereareenoughjobstogoaroundoccursbecauseworkershavedifferentabilities,preferencesjobshavedifferentskillrequirementsgeographicmobilityofworke

8、rsnotinstantaneousflowofinformationaboutvacanciesandjobcandidatesisimperfectslide13Sectoralshiftsdef:changesinthecompositionofdeman