This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with … endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment …, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the decline of capital …

This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with … endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment …?s, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the …

This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with … endogenous labor supply and imperfect competition is presented. It is used to interpret the unusual persistence of unemployment …, unemployment continues to be very high. The paper argues that an important part of the explanation lies in the decline of capital …

unemployment rate to measure its success, however, is misplaced. In a developing country with a large informal sector and in the … absence of unemployment insurance, open unemployment is primarily a middle-class phenomenon: the unemployed are not …