The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or "hysteresis" effect - is quite popular among economists. However, because of an identification problem much of the empirical evidence for this hypothesis is not fully...

The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or hysteresis effect - is quite popular among economists. However, because of an identification problem, much of the empirical evidence for this hypothesis is not fu lly...

The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or "hysteresis" effect - is quite popular among economists. However, because of an identification problem, much of the empirical evidence for this hypothesis is not fully...