We examine the dynamic phenomenon of unemployment as a constantly changing inventory of unemployed individuals. We … unemployment. Multicointegration, introduced by Granger and Lee (1989), offers a natural way to model the level of unemployment as … an inventory. We find that there is multicointegration between inflows into and outflows from unemployment and the level …

In the past decades unemployment in the Netherlands has gone down substantially. The main suspects responsible for this … unemployment rate in the Netherlands has increased somewhat. However, since the huge decline in unemployment was due to structural … improvements in the functioning of the labor market there is not a lot of reason to worry about the recent rise in unemployment …