The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some … Keynesian model with unemployment, and assess their empirical relevance …

The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some … Keynesian model with unemployment, and assess their empirical relevance …

the high persistence of European unemployment. I study the implications of that environment for the design of monetary … policy. The optimal policy calls for strong emphasis on (un)employment stabilization which a standard interest rate rule …

the high persistence of European unemployment. I study the implications of that environment for the design of monetary … policy. The optimal policy calls for strong emphasis on (un)employment stabilization which a standard interest rate rule …