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 …

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

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 …

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

flows. Similarly, countries with higher unemployment benefits and more coordinated wage bargaining systems are characterised …