The regression lines represent this relationship for each of the following periods: from January 1983 through March 2013, from January 1983 through December 1995, and from January 1996 through March 2013. All of these regression lines show that, unless the unemployment rate falls below 2.5 percent or so, the  13  Bank of Japan, Financial System Report, April 2018: 30-32, https://www.boj.or.jp/en/research /brp/fsr/data/fsr180419a.pdf.
2 3/4  BIS central bankers' speeches  2 For empirical evidence of the “gaming” behaviour of banks participating in the stress test, see: Philippon, T.,  Pessarossi, P. and Camara, B.