The dominant view relating to unemployment and inflation is that inflation will be constant at a level of unemployment … (the nonaccelerating inflation rate of unemployment, NAIRU) determined on the supply side of the economy (and in the labor … market in particular). Further, the economy will tend to converge to (or oscillate around) that level of unemployment …

determination of unemployment and wages in Germany and the U.K. Underlying this proposition is the notion that capital accumulation … dramatic rise in unemployment in the 1980s was attributed to adverse supply shocks. However, after the reversal of the shocks …, unemployment persisted which some economists explained by resorting to inflexibilities in the labor markets. It is worth noting …

The persistence of high unemployment has been one of the most puzzling developments of the past twenty years or so. In … the UK, unemployment averaged 2.1% between 1966 and 1973, and since 1974 it has risen to an average of 7.5%. The … prevailing view of the persistence of unemployment and of the continuous rise in the NAIRU is that explanations and solutions can …

the central role of aggregate demand in the EMU and at concerns about unemployment. It next examines the prospects of the … and as a means to alleviate the serious unemployment problem, the authors recommend that the European Central Bank be …

unemployment in a range of EMU countries and to compare the results across countries. A time-series analysis is conducted in the … literature on capital stock and unemployment, before it deals with the theoretical model. This is followed by estimation and … hypothesis of the paper: capital stock is an important determinant of unemployment and wages in the countries considered for the …