thereby for equilibrium unemployment in an economy with product and labour market imperfections.We show that intensified … product market competition will reduce equilibrium unemployment, whereas the effect of increased capital intensity is more … complex.Higher capital intensity will decrease the equilibrium unemployment when the elasticity of substitution between …

Unemployment is now the key issue for economic policy in the OECD and Europe in particular.By examining data from the … seeks to cast light on three questions: the degree to which unemployment has been the result of slow adjustment to large … the labour market that includes wages, unemployment, the capital stock and the terms of trade.It uses cointegration …

unemployment.We then discuss and research the role of labour market institutions in the adjustment process that has brought … unemployment back to a " normal " level.We argue that these institutions cannot be blamed for the increase in unemployment, but … that more flexible institutions could have led to a more rapid fall in unemployment once the Finnish economy began to …