growth and the Non-Accelerating Inflation Rate of Unemployment (NAIRU). Because productivity trends evolve slowly, such …-equation model of unemployment and wage setting, that incorporates productivity effects, is estimated over the whole period allowing … labour productivity do matter, but they go only part of the way towards explaining wide swings in average unemployment across …

market performance. We find that developments in wage setting institutions and in unemployment insurance inhibited a return …

Existing estimates of the annual unemployment rate from 1870 to 1913 were constructed by the Board of Trade, initially … reconstruct sectoral unemployment rates based on union records and supplement this with (crude) estimates for certain other … deviation than the Board of Trade index. The wide swings in unemployment during the 1870s are confirmed but the amplitude of …