Guichard, Stéphanie; Rusticelli, Elena - Economics Department, Organisation de Coopération et … - 2011
The financial crisis has resulted in a substantial increase in unemployment in the OECD. This paper shows that this … increase has reversed the reduction in structural unemployment which has been estimated to have occurred in most OECD countries … since the late 1990s. Structural unemployment is defined as a time-varying NAIRU derived from the information contained in a …