We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … policy ; model uncertainty ; Bayesian model averaging ; unemployment gap ; Taylor rule …

unemployment. The results suggest that the elasticity is indeed negative, i.e. that real wages are lower in local labour markets … with higher unemployment. The size of the elasticity for the euro area is similar to that found in previous studies for a … number of countries, including the United States. Furthermore, there is some variation in the unemployment elasticity by …

protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …