Tuesday, October 2, 2018

Dynamic equilibrium: flow from unemployed to employed

Here's a quick one. I'm currently reading this [pdf] (which was the source of the forecast in the previous post), and wanted to compare the dynamic information equilibrium model (DIEM) with another time series — the flow from unemployed to employed (as a percent of the labor force). Unfortunately, the easily accessible data on FRED isn't quite the same series (nor does it go back as far), but it's still well described by the DIEM:


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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.