This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a...

The current slowdown in the Norwegian economy has followed an exceptionally prolonged phase of expansion. The current slowdown in economic growth is expected to continue. Over the longer term, the public finances face challenges as oil revenues begin to run out and pension liabilities escalate....