relation in first differences, the possible lagged effect of GDP dynamics on unemployment changes, the persistence of … unemployment rate dynamics, the possible different values of Okun coefficients under recession (with respect to periods of … coefficients), the additional effect on unemployment caused by large adverse shocks such as financial crises. A distinctive feature …

, 2007); and second, that financial deepening has an optimum unemployment rate-wise, as initially supported by Georgiou (2009 …