unemployment persistence. …

In this paper, we focus on and examine the empirical evidence of non- linearity in aggregate Canadian unemployment … reject the null hypothesis of a linear structure for Canadian unemployment. …

Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972 …) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in … which money is necessary as a means of payment. Involuntary unemployment occurs under indirect exchange, just when the …