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 … increase in interest rates, and (ii) the acceleration in capital accumulation was the crucial driving force of unemployment in …

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 …

unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting …The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … lagged adjustment processes. In the context of estimated labor market systems for Germany, the UK, and the US, we construct …

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 … increase in interest rates, and (ii) the acceleration in capital accumulation was the crucial driving force of unemployment in …

unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting …The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … lagged adjustment processes. In the context of estimated labor market systems for Germany, the UK, and the US, we construct …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting …The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … lagged adjustment processes. In the context of estimated labor market systems for Germany, the UK, and the US, we construct …