Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1995
This paper views movements in unemployment as the result of the interaction between: (a) lags in labour market … decisions; and (b) labour market shocks with temporary and permanent components. Two features of unemployment dynamics are … aggregate labour maket activity in Germany, the United Kingdom, and the United States is constructed, and the sources of …