This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment … European unemployment rates observed during the seventies. The explanation given is that even if the unemployment rate would … job creation remains low making the return to a low unemployment rate impossible. The paper shows that in some cases …

general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …

capable to generate business ßuctuations, driven by self-fulÞlling belief, characterised by unemployment persistence. A …

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …

We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …

subsequent economic crisis. The aim of the text is to describe changes in the field of employment and unemployment, as well as …) in relation to employment and unemployment. The text includes a description of Estonia labour market institutions as well …, unemployment, active and passive labour market policy measures, social partners, social welfare reform, adaptation to the economic …