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 …

We explore the far-reaching implications of replacing current unemployment benefit (UB) systems by an unemployment … balances in these accounts are available to them during periods of unemployment. The government is able to undertake balanced … model for the high unemployment countries of Europe. Our results suggest that this policy reform would significantly change …

these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

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 labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

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

This paper analyses the relation between US inflation and unemployment from the perspective of frictional growth, a … effects, giving rise to a long-run inflation-unemployment tradeoff. We evaluate this tradeoff empirically and assess the … impact of productivity, money growth, budget deficit, and trade deficit on the US unemployment and inflation trajectories …