-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …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 theory of unemployment, which focuses on (a) the interaction among labor markets 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 …