The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
In this paper, we provide a set of comparable estimates of aggregate monthly job-finding and separation rates for twenty-seven OECD (Organisation for Economic Co-operation and Development) countries; these estimates can be used for the cross-country calibration of search models of unemployment. We find that cross-country differences in job-finding rates are much greater than those in separation rates. Our results are quantitatively and qualitatively in line with those published in previous studies; however, they cover a much larger set of countries. We combine our estimates with evidence on unemployment and labor force participation rates to impute steady-state worker flows for twenty-three of the countries in our sample.