the permanent and transitory components for the movements of the unemployment rate in four countries (Austria, France, UK …In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long …, and USA). We find that the transitory component has a significant impact on unemployment only in the US. In contrast to …

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …

This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain … reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the … growth drivers. Estimating a system of labor market equations for a panel of EU countries, we derive the dynamic unemployment …