The methodology used in this paper has three distinguishing features: the natural rate of unemployment and potential … output are jointly estimated; estimation integrates wage and price data with “real” and structural data; and third, the …

This paper presents empirical estimates of the policy and structural determinants of the natural rate of unemployment … real wages to their equilibrium level. Estimates are presented showing how the generosity of the unemployment insurance … system is related to past levels of unemployment. The empirical results indicate that government policies have been largely …

various tax rates lead to lower budget deficits in the long run, as a result of an expanding tax base and lower unemployment …

natural level of rate of unemployment will rise and remain higher, and the full employment level is likely to decline. There …