This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …) past UK labour market shocks have prolonged after-effects on unemployment due to interactions among different lagged …

in Europe, the book discusses a unique characteristic of the European labor market- that unemployment not only rises …This book, edited by S.G.B. Henry and Dennis J. Snower, examines the high unemployment that has plagued five European … mechanisms are outdated economic structures, the power of labor unions, rising nonwage labor costs, and the disparity between …