Smith, Jennifer C.. (2011) The ins and outs of UK unemployment. The Economic Journal, Vol.121 (No.552). pp. 402-444. ISSN 00130133

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Abstract

This study shows that in the UK, increases in unemployment in a recession are driven by rises in the separation rate. A new decomposition of unemployment dynamics is devised that does not require unemployment to be in steady state at all times. This is important because low UK transition rates - one quarter the size of the US - imply substantial deviation of unemployment from steady state near cyclical turning points. In periods of moderation, the job finding rate is shown to have most influence on UK unemployment dynamics. Evidence comes from the first study of monthly data derived from individuals' labour market spells recorded in the British Household Panel Survey from 1988 to 2008.

Item Type:	Journal Article
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	Unemployment -- Great Britain, Labor market -- Great Britain
Journal or Publication Title:	The Economic Journal
Publisher:	Wiley-Blackwell Publishing Ltd.
ISSN:	00130133
Date:	May 2011
Volume:	Vol.121
Number:	No.552
Page Range:	pp. 402-444
Identification Number:	10.1111/j.1468-0297.2011.02428.x
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/39966

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