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Business, 17.12.2019 00:31, antonjas001
The steady-state rate of unemployment is u/l = s/(s+f). suppose that the unemployment rate does not begin at this level. show that the unemployment rate will evolve over time and reach this steady state. (hint: express the change in the number of unemployed as a function of s, f, and u. then show that if unemployment is above the natural rate, unemployment falls, and if unemployment is below the natural rate, unemployment rises.)
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The steady-state rate of unemployment is u/l = s/(s+f). suppose that the unemployment rate does not...
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