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Phillips curves and unemployment dynamics : a critique and a holistic perspective

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2006

NAIRU. The labour macro literature tries to explain unemployment dynamics and determine the real economic factors that drive …

Persistent link: https://www.econbiz.de/10003359297

The (ir)relevance of the NRU for policy making : the case of Denmark

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2006

We reconsider the central role of the natural rate of unemployment (NRU) in forming policy decisions. We show that the unemployment rate does not gravitate towards the NRU due to frictional growth, a phenomenon that encapsulates the interplay between lagged adjustment processes and growth in...

Persistent link: https://www.econbiz.de/10003489022

The impact of the recent migration from Eastern Europe on the UK economy

Blanchflower, David G. (contributor); … - 2007

UK population growth over the last thirty-five years has been remarkably low in comparison with other countries; the population grew by just 7% between 1971 and 2004, less than all the other EU15 countries except Germany. The UK population has grown at a faster pace since the turn of the...

Persistent link: https://www.econbiz.de/10003531899

The recent evolution of the natural rate of unemployment

Daly, Mary C.; Hobijn, Bart; Valletta, Robert G. - 2011

The U.S. economy is recovering from the financial crisis and ensuing deep recession, but the unemployment rate has remained stubbornly high. Some have argued that the persistent elevation of unemployment relative to historical norms reflects the fact that the shocks that hit the economy were...

Persistent link: https://www.econbiz.de/10009310043

The NRU and the evolution of regional disparities in Spanish unemployment

Bande Ramudo, Roberto; Karanassou, Marika - 2011

On both theoretical and empirical grounds, this paper provides evidence that refutes the natural rate of unemployment (NRU) hypothesis as an explanation of the evolution of regional disparities in the unemployment rate. We first present our analytical framework, which follows the chain reaction...

Persistent link: https://www.econbiz.de/10009311002

Does high home-ownership impair the labor market?

Blanchflower, David G.; Oswald, Andrew J. - 2013

This study explores the hypothesis that high home-ownership damages the labor market. We show that rises in the home-ownership rate in a U.S. state are a precursor to eventual sharp rises in unemployment in that state. The elasticity exceeds unity: a doubling of the rate of home-ownership in a...

Persistent link: https://www.econbiz.de/10010195450

Studying the NAIRU and its implications

Bozani, Vasiliki; Drydakis, Nick - 2011

, phenomena, and history. Given the key role that the Non-Accelerating Inflation Rate of Unemployment (NAIRU) has in the …, identifying methodological strengths and the weaknesses in the body of the macroeconomic research about the concept of NAIRU. In … synthesizing quantitative literature. -- NAIRU ; macroeconomic policies …

Persistent link: https://www.econbiz.de/10009516873

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10011412072

Unemployment in the European Union : a dynamic reappraisal

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which …

Persistent link: https://www.econbiz.de/10011412080

The European Phillips curve : does the NAIRU exist?

Karanassou, Marika (contributor); Sala, Héctor (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001792879