Frequency of cyclical unemployment is rising: Fed paper

federal-reserve

A Federal Reserve paper published on Friday shows that cyclical movements in the unemployment rate have become much more persistent since the Second World War.

Andrew Figura, the paper's author, uses data on unemployment in the United States between 1948 to 2008 to examine whether the cyclical behavior of unemployment has changed over the post-war period and if cyclical movements in unemployment have become more persistent.

Figura finds evidence that cyclical movements in unemployment have

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