able to generate fragile equilibria. For instance, in this literature the natural unemployment rate is allowed to shift … over time depending on past unemployment. Actually, many European unemployment series seem to exhibit a unit root or … persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

to workers. In the short run, union membership dynamics are mainly driven by changes in unemployment. In turn, changes in …

return to one of the most important ideas to emerge from Keynes’ (1936) General Theory; that high involuntary unemployment …

This paper studies the joint behaviour of inflation and unemployment in Spain over the period 1964–95 in order to … on the effects of demand shocks on the unemployment rate. Our estimates suggest, according to the reader’s prior belief …

This paper provides a model of "social hysteresis," whereby long, deep recessions demotivate workers and thereby lead …

differenced unemployment rate, to isolate three 'structural' shocks which drove business cycle fluctuations in Spain during 1970 … unit-root persistence in the unemployment rate. Our basic finding is that disinflationary policies in an economy suffering … from high persistence can become very costly in terms of unemployment, unless supply-side reforms, aimed at eliminating the …

We reformulate the Smets-Wouters (2007) framework by embedding the theory of unemployment proposed in Galí (2011a …,b). We estimate the resulting model using postwar U.S. data, while treating the unemployment rate as an additional observable … output gap. In addition, the estimated model can be used to analyze the sources of unemployment fluctuations. …