severe and prolonged macroeconomic shock affects wage rigidity and unemployment. Our second survey was conducted in 1998 …, when the unemployment rate was much higher, and the inflation rate much lower, than when we conducted the first survey in … 1991. We find no evidence that the increase in unemployment has softened the mechanisms generating wage rigidity. On the …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

This paper begins with an examination of various ways of measuring unemployment and, borrowing ideas from the poverty … measurement literature, proposes four new general unemployment indices. The first of these is parallel to the Sen poverty index … unemployment rate, the average unemployment duration, and the inequality in the unemployment durationsto the differences between …

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 …

business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our … estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase in the unemployment rate … facts observed in the data. First, the land price and the unemployment rate tend to move in opposite directions over the …

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 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 …