in Britain between 1889-90 using data from the US Commissioner of Labour survey conducted at that time. The determinants …

unemployment insurance on labour supply. A review of the evidence leads us to stress the importance of non-market clearing as the … labour immobility were not such an important cause of interwar unemployment as is sometimes thought. …This paper gives an overview of quantitative work on the interwar labour market, a topic which has received growing …

This paper investigates the implications of budgetary policies for consumption and economic growth. We present a model … a rise in government debt, financed by lump-sum taxes, increases the share of private consumption to national income and … reduces the long-run growth rate. We also show that a rise in government consumption financed by lump-sum taxes reduces both …

labour productivity do matter, but they go only part of the way towards explaining wide swings in average unemployment across … growth and the Non-Accelerating Inflation Rate of Unemployment (NAIRU). Because productivity trends evolve slowly, such …-equation model of unemployment and wage setting, that incorporates productivity effects, is estimated over the whole period allowing …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … to the failure of political parties to precommit to price stability, in the light of unemployment persistence. Elections … are associated with higher inflation, with the exception of the Thatcher period. There is no evidence that the Labour …

to full employment in interwar Britain while in the US, New Deal legislation impeded labour market adjustment in the 1930 …We examine the labour market experience of the UK and the US in the recessions of the early 1920s and the early 1930s … the 1930s. A key ingredient to understanding these patterns is the interaction between economic shocks and labour market …

recent differential unemployment persistence in our sample of countries: first, sluggishness in labour demand, and second …In this paper we present an investigation of unemployment persistence in Japan, the United States and fourteen European … economies. We concentrate on the sources of slow adjustment in the labour market, such as sluggishness in labour demand and …

We extend the `rational partisan model' of inflation and unemployment by introducing inflation and unemployment … stability. The greater aversion of `socialists' to unemployment results in an inflation rate which is higher by five percentage … points than under the more anti-inflationary `conservatives'. Unemployment seems to be independent of the identity of the …

sectors based on proxies for employment. These are weighted according to labour force shares but the index still excludes …Existing estimates of the annual unemployment rate from 1870 to 1913 were constructed by the Board of Trade, initially … number unemployed in various trade unions and it has a number of well known flaws. The index is weighted by membership of …

natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …