The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly … area which is particularly relevant for Australia. This paper attempts to fill this void by estimating a multi … causes of the unemployment upturn in 1973-1983 and the subsequent decline in 1993-2006. Our results show that (i) the main …

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 …

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 … empirical analysis and find that the NRU explains only 33% of the unemployment variation, while frictional growth accounts for …

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 …

dynamics as investment conditions are similar. Our results are consistent with this hypothesis. Furthermore, there is no …

Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment … large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment …

We study the implications of product market competition and investment for price setting, wage bargaining and thereby … for equilibrium unemployment in an economy with product and labour market imperfections. We show that intensified product … market competition will reduce equilibrium unemployment, whereas the effect of increased capital intensity is more complex …

the unemployment rate, which until now has been the main approach in the empirical literature. …

role for the cyclicality of the unemployment outflow rate, although the contribution of the duration of unemployment is … significant. In contrast, composition effects dampen the cyclicality of the unemployment inflow rate considerably. We further … observe that the initially positive contribution of composition effects to a higher unemployment outflow rate turns negative …