overly long unemployment durations. We examine the infuence of previous wages on unemployment durations for workers after …

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 viewed as the outcome of the interplay between labor market shocks and prolonged …

that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …