part-time workers. A one percentage point increase in the unemployment rate led to an average decline in real hourly wages … of new hires are not helpful for understanding the behaviour of unemployment over the business cycle. …

The paper critically examines the New Keynesian explanation of hysteresis based on the role of long-term unemployment … investigate the reversibility of long-term unemployment. Then we focus on episodes of sustained long-term unemployment reductions … results emerge: i) the evolution of the long-term unemployment rate is almost completely synchronous with the dynamics of the …

Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment … large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment …