Snower, Dennis J.; Henry, Brian; Karanassou, Marika - 2021
after-effects of persistent (transitory but long-lasting) shocks. We argue that (a) past UK labour market shocks have … prolonged after-effects on unemployment due to interactions among different lagged adjustment processes in the labour market, (b …) many of the important shocks that have hit the UK labour market over the past 25 years have been persistent, and (c) the …