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EconPapers FAQ Archive maintainers FAQ Cookies at EconPapers Format for printing The RePEc blog The RePEc plagiarism page Beveridgean Unemployment GapPascal Michaillat and Emmanuel Saez (Obfuscate( 'econ.berkeley.edu', 'saez' ))No 14132, CEPR Discussion Papers from C.E.P.R. Discussion PapersAbstract:This paper measures the unemployment gap (the difference between actual and efficient unemployment rates) using the Beveridge curve (the negative relationship between unemployment and job vacancies). We express the unemployment gap as a function of current unemployment and vacancy rates, and three sufficient statistics: elasticity of the Beveridge curve, recruiting cost, and nonpecuniary value of unemployment. In the United States, we find that the efficient unemployment rate started around 3% in the 1950s, steadily climbed to almost 6% in the 1980s, fell just below 4% in the early 1990s, and remained at that level until 2019. These variations are caused by changes in the level and elasticity of the Beveridge curve. Hence, the US unemployment gap is almost always positive and highly countercyclical---indicating that the labor market tends to be inefficiently slack, especially in slumps.JEL-codes: E24 E32 J63 J64 (search for similar items in EconPapers)Date: 2019-11New Economics Papers: this item is included in nep-macReferences: View references in EconPapers View complete reference list from CitEc Citations: View citations in EconPapers (3) Track citations by RSS feedDownloads: (external link) _papers/dp.php?dpno=14132 (application/pdf)CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at email@example.comRelated works:Working Paper: Beveridgean Unemployment Gap (2021) Working Paper: Beveridgean Unemployment Gap (2019) This item may be available elsewhere in EconPapers: Search for items with the same title.Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/TextPersistent link: :cpr:ceprdp:14132Ordering information: This working paper can be ordered from ... rs/dp.php?dpno=14132Obfuscate( 'cepr.org', 'orders' )Access Statistics for this paperMore papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.Bibliographic data for series maintained by (Obfuscate( 'cepr.org', 'repec' )). var addthis_config = "data_track_clickback":true; var addthis_share = url:" :cpr:ceprdp:14132"Share This site is part of RePEc and all the data displayed here is part of the RePEc data set. Is your work missing from RePEc? Here is how to contribute. Questions or problems? Check the EconPapers FAQ or send mail to Obfuscate( 'oru.se', 'econpapers' ). EconPapers is hosted by the Örebro University School of Business.
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The category of time, place, and manner restrictions on speech, as supposedly distinct from absolute bans, appears to be central to free speech law. Even a modest examination of the case law, however, suggests the arbitrariness of any such distinction. Any familiar time, place, or manner restriction on speech can be reasonably re-described as an absolute ban on speech, and vice versa. Any differences in how the relevant regulations of speech should be judicially tested, whether by differing degrees of rigor or otherwise, are correspondingly arbitrary. This Article recommends abandoning any attempt to substantively distinguish between time, place, and manner restrictions and absolute prohibitions of speech. The three currently used judicial tests for presumed content-neutral restrictions on the supposed time, place, and manner of speech should be substantially revised and consolidated. Any replacement test should then de-emphasize concerns for any degree of narrowness of tailoring, focusing instead on whether the regulated speakers are now meaningfully worse off, in terms of their own free speech values, given whatever channels of communication remain available to them after the speech regulation in question has been imposed.
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