We develop a general equilibrium analysis of the impact of active labour market policy on unemployment, wages and the … employed have little exposure to unemployment and if the demand for unskilled labour is inelastic, there may be political … support for policies which actually raise the equilibrium level of total unemployment. …

The relationship between unemployment and the rate of change of money wages in interwar Britain is re-examined. It is … level of excess demand associated with the measured unemployment rate. In particular, the evidence suggests that long …-term unemployment did not act as a restraint on the growth of money wages. New estimates of the wage equation imply that the NAIRU rose …

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 …

We argue that the 1970s were characterized by attempts to maintain a cooperative, low unemployment equilibrium in the …, explains the initial rise in unemployment. The reduction in union power also helps to explain the acceleration in productivity …

has been a worsening in the trade-off between unemployment and inflation. The poor unemployment/inflation trade-off is due … to the neglect of skill training and education (causing skill shortages) and to the build-up of long-term unemployment …

determine local wages and unemployment; when mobility between regions is obstructed by rent subsidies and controls, unemployment … and wage differentials arise. Because unemployment benefits set a floor beneath the supply price of labor, as these … differentials rise, so too does the national unemployment rate (in declining regions unemployment is the major response, in growing …

During the 1980s youth unemployment rates have persistently exceeded unemployment rates for adults, in Britain as in … other OECD countries. In the interwar period, youth unemployment rates in Britain were dramatically lower than those for … in the cyclical sensitivity of youth unemployment between the interwar and postwar periods, apparently attributable to …

the recession and peaked at more than 1.5 million. Without the extensive use of short-time work, unemployment would have …

we examine the policy effects of the minimum wage, unemployment benefits and search frictions. …