NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence

Olivier Coibion, Yuriy Gorodnichenko, Dmitri Koustas

NBER Working Paper No. 19600
Issued in October 2013

---- Acknowledgements -----

We thank Olivier Blanchard, Romain Ranciere, David Romer, and Justin Wolfers for very helpful comments, and Florence Jaumotte for sharing updated Blanchard-Wolfers series on labor market institutions. This paper was written in part while Coibion was a visiting scholar at the IMF, whose support was greatly appreciated. The views expressed in the paper are those of the authors and should not be interpreted as representing those of any institutions with which they are or have been affiliated. We thank Alex Dombrowski, Noa Dreymann, Chuck Fang, and especially Donna Kim and Yury Yatsynovich for research assistance. Gorodnichenko thanks NSF and Sloan Foundation for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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