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 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 …

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 …

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 …