sidelined the role of capital stock as a determinant of employment (Webster, 2003). As far back as 1991, Pissarides had argued … causes of the unemployment upturn in 1973-1983 and the subsequent decline in 1993-2006. Our results show that (i) the main … determinants of the unemployment rise in the 1970s and early 1980s were wage-push factors, the two oil price shocks and the …

inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …

Spain provides an extreme case of unemployment rate oscillations (8.3% in 2007, 26.1% in 2013, 19.6% in 2016) in … parallel with cute regional persistance in labour market outcomes - the sets of relatively high and low unemployment regions … such groups of regions react differently to key drivers of employment and wage setting. We find that the low income (high …

The evolution of Spanish unemployment has been quite idiosyncratic. The full-employment levels of the early seventies … were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price … shocks. While unemployment was extremely persistent in most of the eighties and nineties, it experienced its sharpest decline …

On both theoretical and empirical grounds, this paper provides evidence that refutes the natural rate of unemployment … (NRU) hypothesis as an explanation of the evolution of regional disparities in the unemployment rate. We first present our … analytical framework, which follows the chain reaction theory (CRT) of unemployment and argues that (i) a system of interactive …