In this paper Markus Knell studies the determinants of unemployment in a two-country- model, where real wages are the … monetary union (MU) will (negatively) affect unemployment in all member countries by fundamentally changing the nature of … whatsoever on structural unemployment. …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low - often extremely low - response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …