This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with … endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment …, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the decline of capital …

unemployment and debt. The paper illustrates in a downside scenario, how low potential growth and crisis legacies leave the euro …

of these estimates is the measure of labor market slack. The traditional measure of unemployment in Korea yields an … rather than registering as unemployed. This paper discusses a way in which the measure of unemployment can be broadened to …

an equilibrium natural rate of unemployment, which is estimated to have been 3-4 percent in the 1980s, and a quasi …-equilibrium unemployment rate closer to actual rates of 7-8 percent. Corresponding to these two concepts of equilibrium unemployment, estimates … the quasi-equilibrium rate of unemployment or with the natural rate of unemployment …

The methodology used in this paper has three distinguishing features: the natural rate of unemployment and potential …

data series including inflation, actual output, unemployment and capacity utilization. The estimation results suggest that …