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 theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the … growth drivers. Estimating a system of labor market equations for a panel of EU countries, we derive the dynamic unemployment …This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain …

-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 …