One common feature of all empirical wage curve studies is the underlying assumption that the unemployment rate is the natural indicator of labor market tightness. However, we observe that in many European countries governments spend remarkable amounts on labor market training programs. As...

type="main" xml:lang="en" <p>A stylized fact of empirical work on the relationship of wages and unemployment using macro data for European countries is a combination of strong autocorrelation of wages and a significant negative long-run relationship of wages and unemployment. However, this view is...</p>

"One common feature of all empirical wage curve studies is the underlying assumption that the unemployment rate is the natural indicator of labour market tightness. However, we observe that in many European countries governments spend remarkable amounts on active labour market policies, such as...

One common feature of all empirical wage curve studies is the underlying assumption that the unemployment rate is the natural indicator of labor market tightness. However, we observe that in many European countries governments spend remarkable amounts on labor market training programs. As...