This paper studies the dynamics of unemployment (u) and its natural rate (u*), with u* measured by real-time estimates …

In this paper, a theory of the natural or equilibrium rate of unemployment is built around a theory of the duration of … a minority are on temporary layoff or have just entered the labor force. Thus, high-unemployment labor markets are … efficient. The factors influencing the resulting natural unemployment rate are discussed. Under plausible assumptions, the …

of unemployment. It is this body of work we assess in this paper. We reach two main conclusions. First, there has been … think for example about the relation between technological progrss and unemployment. Second, empirical knowledge lags behind … countries. We look at two issues, the relation of wages to unemployment, and the risk of European unemployment …

This paper investigates the precision of conventional and unconventional estimates of the natural rate of unemployment … series for unemployment and inflation, including additional supply shift variables in the Phillips curve, using monthly or …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low---often extremely low---response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …

self-employment rate and the unemployment rate. It is also shown that the self-employed are more satisfied with their jobs …

Two key facts about European unemployment must be explained: the rise in unemployment since the 1960s, and the … heterogeneity of individual country experiences. While adverse shocks can potentially explain much of the rise in unemployment … institutions pre-date the rise in unemployment. Based on a panel of institutions and shocks for 20 OECD nations since 1960, we find …

The recent European experience of high persistent unemployment has led to the development of theories of unemployment … hysteresis embodying the idea that the equilibrium unemployment rate depends on the history of the actual unemployment rate. This …

The paper analyzes the change in unemployment in 12 OECD countries over the period 1970-83 in terms of underlying … by country size, are still sizeable, thus a 'classical' element of unemployment remains. However, most of the large … additional increase in unemployment after 1980 (as well as the profit squeeze and investment slowdown) is ascribed to the …