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Unemployment in the European Union: institutions, prices, and growth
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2003
This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the interplay between these adjustment processes and the...
Persistent link: https://www.econbiz.de/10010271739
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Characteristics of unemployment dynamics: The chain reaction approach
Karanassou, Marika; Snower, Dennis J. - 2000
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 labor market shocks, working their way through systems of interacting lagged adjustment processes. In the context of...
Persistent link: https://www.econbiz.de/10010273099
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Adjustment dynamics and the natural rate: An account of UK unemployment
Henry, Brian; Karanassou, Marika; Snower, Dennis J. - 1999
This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU). Our analysis suggests that the British NRU has...
Persistent link: https://www.econbiz.de/10010273128
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Unemployment in the European Union: a dynamic reappraisal
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2002
This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...
Persistent link: https://www.econbiz.de/10010276417
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Characteristics of Unemployment Dynamics: The Chain Reaction Approach
Karanassou, Marika; Snower, Dennis - Institute for the Study of Labor (IZA) - 2000
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 labor market shocks, working their way through systems of interacting lagged adjustment processes. In the...
Persistent link: https://www.econbiz.de/10005703122
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Unemployment in the European Union: A Dynamic Reappraisal
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002
This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...
Persistent link: https://www.econbiz.de/10005703234
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Unemployment in the European Union: Institutions, Prices, and Growth
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003
This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the interplay between these adjustment processes and the...
Persistent link: https://www.econbiz.de/10005703238
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Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment
Henry, Brian; Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999
This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical "natural rate of unemployment" (NRU). Our analysis suggests that the British NRU has remained...
Persistent link: https://www.econbiz.de/10005763790
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Inflation Adjustment and Labour Market Structures : Evidence from a Multi-Country Study
Nunziata, Luca; Bowdler, Christopher - 2005
An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is … presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of … inflation to its reduced form determinants. These findings are attributed to the behaviour of wages following movements in …
Persistent link: https://www.econbiz.de/10010262222
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10010267287