Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
variables to influence
the unemployment rate. Second, investment (i.e., the growth rate of capital stock), through
its positive … unemployment. Had capital stock growth stayed constant at its 1993 value,
unemployment would have ended the period about 5 … interpreted as "trend" unemployment and the second one as "cyclical"
unemployment.
3.2 The Phenomenon of Frictional Growth
Let us …