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We distinguish and assess three fundamental views of the labor market regarding the movements in unempoyment: (i) the … that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the … problems faced by these conceptions in explaining the diversity of labor market experiences across the OECD labor markets. We …
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This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the U.S. over the past 25 years. Next, it indicates which of these regularities can be explained within the competitive demand-supply framework of analysis and what is left unexplained....
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