, it appears that the Nairu can substantially differ from the unemployment trend. Second, relaxing the common trend …Estimates of the Nairu generally suffer from a large uncertainty, which can be reduced by adopting a bivariate … framework and assuming that shifts of the Phillips curve share a common trend with the unemployment rate. We consider in this …

This article analyzes the hysteresis hypothesis in the unemployment rates of the four French overseas regions … root and so find evidence supporting hysteresis in the unemployment rates for the FORs. …

States at business cycle frequency. That being so,it can also generate large procyclical fluctuations in the vacancy-unemployment … ratio. This results from two plausible explanations, namely heterogeneity in households preferences and unemployment …

unemployment that are in line with the data. We show that both the endogenous movements in the firms’ discount factor and the …

. Thus, such reforms are not sufficient by themselves to reduce the unemployment rate and to stimulate production and …