| There is likely to be some frictional unemployment even when there is technically full employment, because most people change jobs from time to time. |
| Unemployment beyond frictional unemployment is classified as unintended unemployment. |
| If there is an inefficient excess of frictional unemployment, it should be reduced by policies that change search behavior and improve the effectiveness of job markets. |
| This paper falls within the scope of recent efforts to integrate frictional unemployment into New Keynesian models: firms actively look for workers matching their requirements within the pool of job-seekers. |
| This is frictional unemployment corresponding to the time it takes young people to find their first job. |
| But how can we find out whether the U.S. economy has too much, too little, or the right amount of frictional unemployment? |
