This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …

unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting …The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … lagged adjustment processes. In the context of estimated labor market systems for Germany, the UK, and the US, we construct …

-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged … permanent shocks (especially the rise in working-age population and the decline in capital formation), whereas the unemployment …This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which …

We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the … problems faced by these conceptions in explaining the diversity of labor market experiences across the OECD labor markets. We …

The paper examines the determinants of the division of labor within firms. It provides an explanation of the pervasive … rotation. Whereas the existing literature on the division of labor within firms emphasizes the returns from specialization and … of the versatility of human capital. The paper also explores how the move towards multi-tasking can affect the labor …