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Aysegul, Sahin ; Stefano, Eusepi ; Richard, Crump ; Stefano, Eusepi ; Marc, Giannoni. (2019) A unified approach to measuring u*.
In: Staff Reports. RePEc:fip:fednsr:889.

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The Current Population Survey (CPS) reports the labor market status of the respondents each month that allows the BLS to compute important labor market statistics like the unemployment rate. In particular, in any given month a civilian can be in one of three labor force states: employed (E), unemployed (U), and not in the labor force (N) making it possible to compute monthly transition rates between three labor market states. We exploit the replication files of Barnichon and Mesters (2018) who provided a carefully computed estimates of labor market flows by age and gender.

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