This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …

Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment. This paper challenges what is the standard … account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to … movements in the underlying empirical "natural rate of unemployment" (NRU). Our analysis suggests that the British NRU has …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

. -- unemployment ; natural rate hypothesis ; labour markets ; employment ; adjustment costs …In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long … approach we decompose the dynamics of employment and labour force into transitory and permanent components. We estimated a …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal (depicting how long …

In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long … approach we decompose the dynamics of employment and labour force into transitory and permanent components. We estimated a … the permanent and transitory components for the movements of the unemployment rate in four countries (Austria, France, UK …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

historically focussed on reducing unemployment (the tip of the iceberg), the group of inactive people (below the waterline) is much … larger. Therefore, we point to the clear limitations of the unemployment rate as the (single) key macro-economic indicator of … the health of the labour market. A parsimonious dashboard approach utilising the unemployment-to-population ratio and the …