macroeconomics
N,Gregory Mankiw
College of Management,HUST
CHAPTER SIX
Unemployment
CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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GDP?1 è
?1 è
,1978
28.1%
44.4%
3.8%
23.7%
j<
y<
yy<
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CHAPTER 6 Unemployment
slide 7
?S
?S
GDP?1 è
?1 è
,2002
15.4%
44.4%
6.7%
33.5%
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CHAPTER 6 Unemployment
slide 8
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S
GDP?1 è
?1 è
,1960
4.2%
28.0%
9.9%
57.9%
Agriculture
Manufacturing
Other industry
Services
CHAPTER 6 Unemployment
slide 9
S
S
GDP?1 è
?1 è
,1997
1.7%
17.8%
8.5%
72.0%
Agriculture
Manufacturing
Other industry
Services
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CHAPTER 6 Unemployment
slide 10
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slide 11
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
slide 14
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CHAPTER 6 Unemployment
slide 15
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CHAPTER 6 Unemployment
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slide 16
CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
slide 18
U.S,
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,1958-2002
2
3
4
5
6
7
8
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10
11
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000
P
e
r
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e
n
t
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o
r
c
e
Unemployment rate Natural rate of unemployment
CHAPTER 6 Unemployment
slide 19
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,1991-2002
2.0
2.2
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1991 1993 1995 1997 1999 2001
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CHAPTER 6 Unemployment
slide 20
1 ?
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1 ?
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L = ?? ?
E =
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U =
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U/L =
><
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CHAPTER 6 Unemployment
slide 21
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!
:
1,L ?
3%?,
2, ?Bó?z,
s =
s&y |? ?ˉ¥?s,
f =
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s = rate of job separations
f = rate of job finding
(
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3 )
CHAPTER 6 Unemployment
slide 22
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f ×U
CHAPTER 6 Unemployment
slide 23
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CHAPTER 6 Unemployment
slide 24
p (
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p (
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= s ×(L –U )
= s ×L – s ×U
p U/L,
(f + s)×U = s ×L
yN
Us
Lsf
=
+
CHAPTER 6 Unemployment
slide 25
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> ?yT (s = 0.01)
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CHAPTER 6 Unemployment
slide 26
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CHAPTER 6 Unemployment
slide 27
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CHAPTER 6 Unemployment
slide 28
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1951
1984
1999
2000
1993
1982
1975
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CHAPTER 6 Unemployment
slide 29
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1
2
3
4
5
1965 1970 1975 1980 1985 1990 1995 2000
%
growth rate of inflation-adjusted hourly earnings
change in Unemployment rate
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1
2
3
4
5
1965 1970 1975 1980 1985 1990 1995 2000
%
growth rate of inflation-adjusted hourly earnings
change in Unemployment rate
CHAPTER 6 Unemployment
slide 30
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1992 1994 1996 1998 2000 2002
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1992 1994 1996 1998 2000 2002
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CHAPTER 6 Unemployment
slide 31
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Return
CHAPTER 6 Unemployment

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CHAPTER 6 Unemployment
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CHAPTER 6 Unemployment
slide 35
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CHAPTER 6 Unemployment
slide 36
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End