NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Ins and Outs of Cyclical Unemployment

Michael W. Elsby, Ryan Michaels, Gary Solon

NBER Working Paper No. 12853
Issued in January 2007

---- Acknowledgements -----

The authors are grateful for comments from seminar participants at an NBER Monetary Economics conference, the University of Michigan, York University, and the CEPR European Summer Symposium in Labor Economics. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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