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Unemployment in the European Union: A dynamic reappraisal
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2003
This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...
Persistent link: https://www.econbiz.de/10010955891
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An Incentive Theory of Matching
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2010
This paper examines the labour market matching process by distinguishing its two component stages: the contact stage, in which job searchers make contact with employers and the selection stage, in which they decide whether to match. We construct a theoretical model explaining two-sided selection...
Persistent link: https://www.econbiz.de/10010955922
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2005
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …
Persistent link: https://www.econbiz.de/10010955553
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Hyperbolic Discounting and the Phillips Curve
Graham, Liam; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2007
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Persistent link: https://www.econbiz.de/10005755254