English, Article edition: Exact Unemployment Rate Indices Michael J. Greenwood; Ulrich Kohli

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Exact Unemployment Rate Indices
Author
  • Michael J. Greenwood
  • Ulrich Kohli
Physical Description
  • article
Notes
  • Conventional unemployment rate measures tend to overestimate the degree of labor underutilization if unemployment disproportionately affects less educated and generally less productive workers. Based on index number theory as well as on econometric techniques, this article proposes a number of alternative measures that are exact for specific labor aggregator functions. The results for the United States show that the conventional, unweighted unemployment rate overestimates the true rate by about 0.6 of a percentage point, or by almost 14%. Copyright 2003 Western Economic Association International.
  • RePEc:bla:coecpo:v:21:y:2003:i:2:p:218-226
Language
  • English
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