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GRADUATE MACROECONOMICS
GADJAH MADA UNIVERSITY
UNEMPLOYMENT AND
INFLATION
(Macroeconomics : Mankiw)
PRESENTED BY :
ARFAN A...
LABOR FORCE = EMPLOYED + UNEMPLOYED
Rate of unemployment (U) =
Unemployed / Labor Force
NATURAL RATE OF
UNEMPLOYMENT
UNEMPLOYMENT
NATURAL RATE OF
UNEMPLOYMENT
FRICTIONAL
UNEMPLOYMENT
STRUCTURAL
UNEMPLOYMENT
CYCLICAL
UNEMPLOY
MENT
f x unemployed = s x employed
Previous equation :
Rate of unemployment (U) = Unemployed / Labor Force
Where :
f: the perce...
Natural Rate of
Unemployment
Demographics
Public Policy
Technological
Change
Sectoral Shifts
OKUN’S LAW
Unemployment
Real GDP
2%
1%
U - Un =- 0.5 x (Y - YP)
Where:
U= Actual unemployment rate
Un=Natural rate of unemployment
Y=Actual GDP
YP=Potential GDP
MACROECONOMIC’S POLICY IN
UNEMPLOYMENT
Unemployment
Insurance
Minimum
Wage
Laws
MinimumWage
Laws
• Higher Income (+)
• Teenage With Minimum Wage (-)
Reducing
Hardship (+)
Higher
Unemployment (-)
Unemployment and Inflation
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Unemployment and Inflation

Unemployment and Inflation (Resume from chapter of the books Macroeconomics by Mankiw)

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Unemployment and Inflation

  1. 1. GRADUATE MACROECONOMICS GADJAH MADA UNIVERSITY UNEMPLOYMENT AND INFLATION (Macroeconomics : Mankiw) PRESENTED BY : ARFAN ARYANTO DALIMUNTHE ROHMAD ADI SIAMAN
  2. 2. LABOR FORCE = EMPLOYED + UNEMPLOYED Rate of unemployment (U) = Unemployed / Labor Force NATURAL RATE OF UNEMPLOYMENT
  3. 3. UNEMPLOYMENT NATURAL RATE OF UNEMPLOYMENT FRICTIONAL UNEMPLOYMENT STRUCTURAL UNEMPLOYMENT CYCLICAL UNEMPLOY MENT
  4. 4. f x unemployed = s x employed Previous equation : Rate of unemployment (U) = Unemployed / Labor Force Where : f: the percentage of unemployed individuals who find jobs s: the percentage of employed workers who separate from jobs
  5. 5. Natural Rate of Unemployment Demographics Public Policy Technological Change Sectoral Shifts
  6. 6. OKUN’S LAW Unemployment Real GDP 2% 1%
  7. 7. U - Un =- 0.5 x (Y - YP) Where: U= Actual unemployment rate Un=Natural rate of unemployment Y=Actual GDP YP=Potential GDP
  8. 8. MACROECONOMIC’S POLICY IN UNEMPLOYMENT Unemployment Insurance Minimum Wage Laws
  9. 9. MinimumWage Laws • Higher Income (+) • Teenage With Minimum Wage (-)
  10. 10. Reducing Hardship (+) Higher Unemployment (-)

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