Karanassou, Marika; Sala, Hector; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2004
reaction theory of unemployment, which focuses on (a) the interaction among labour market adjustment processes, (b) the … interplay between these adjustment processes and the dynamic structure of labour market shocks, and (c) the interaction between … growth drivers. Estimating a system of labour market equations for a panel of EU countries, we derive the dynamic …