able to generate fragile equilibria. For instance, in this literature the natural unemployment rate is allowed to shift … over time depending on past unemployment. Actually, many European unemployment series seem to exhibit a unit root or … persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

to workers. In the short run, union membership dynamics are mainly driven by changes in unemployment. In turn, changes in …

return to one of the most important ideas to emerge from Keynes’ (1936) General Theory; that high involuntary unemployment …

This paper studies the joint behaviour of inflation and unemployment in Spain over the period 1964–95 in order to … on the effects of demand shocks on the unemployment rate. Our estimates suggest, according to the reader’s prior belief …

This paper provides a model of "social hysteresis," whereby long, deep recessions demotivate workers and thereby lead …

differenced unemployment rate, to isolate three 'structural' shocks which drove business cycle fluctuations in Spain during 1970 … unit-root persistence in the unemployment rate. Our basic finding is that disinflationary policies in an economy suffering … from high persistence can become very costly in terms of unemployment, unless supply-side reforms, aimed at eliminating the …