rate, unemployment and inflation in West Germany from the early 1960s up to 2004 using a multivariate co-integration …New-Keynesian macroeconomic models typically assume that any long-run trade-off between inflation and unemployment is … data a strong negative correlation between the trend components of inflation and unemployment. We show that this finding …

This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the … UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate …. Specifically, when taking a univariate approach, the unit root null cannot be rejected in case of the UK and Japanese unemployment …

We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by …. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic … latter control for dependencies. The first generation tests indicate, that unemployment is persistent, but nevertheless …