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EPA (C5, FO)<br />A world econometric model of the Japanese Economic Planning Agency which includes nine country models (of the seven major OECD countries, Australia and South Korea) and six trading regions.<br /><em>See also:</em> linkage models <br /><em>Reference</em><br />Amano, A., Maruyama, A. and Yoshitomi, M. (eds) (1982) EPA World Economic Model, Vols 1 and 2, Tokyo: Economic Planning Agency.
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frictional unemployment (J6)<br />Short-period unemployment brought about by workers changing jobs. This minimum level of unemployment, which coexists with job vacancies, occurs even when an economy is at FULL EMPLOYMENT and is a feature of all types of national ECONOMY. Frictional unemployment is often measured by the number of people unemployed for less than a short period, e.g. eight weeks. Labour market policies can reduce this type of unemployment by making job information more available and accurate and by subsidizing search costs.
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