largely unexplored, set of determinants of the effectiveness of Keynesian and supply-side economic policies. -- unemployment … ; employment ; wage setting ; labour force participation ; labour market dynamics ; unemployment persistence ; imperfect … unemployment responsiveness …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long … the permanent and transitory components for the movements of the unemployment rate in four countries (Austria, France, UK …, and USA). We find that the transitory component has a significant impact on unemployment only in the US. In contrast to …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …