capacity shortages cannot be the direct and single cause of unemployment persistence. Inferring from this observation that low … investment rates play no role in explaining the persistence of high unemployment rates may however fail to take into account the … analyse the determinants of equilibrium unemployment (the NAIRU), provided one takes explicitly into account the effect of a …

This paper reexamines the existence of a long-run relationship between wages and unemployment in the U.K., with data … likelihood method of testing for cointegration, a long-run inverse relationship is indeed depicted between the rate of inflation … and the unemployment rate. However, the main impact of deviations from this long-run equilibrium is on the unemployment …

The creation of jobs in the low-pay sector is considered to be an approach to reduce unemployment, especially with … evaluate the effects of an increasing low-wage sector on unemployment, the concept of the non-accelerating inflation rate of … unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting …

/price-setting theory, this increase should reduce structural unemployment, because labour market flexibility increases and labour costs … impact of the relationship between the extensiveness of the low-pay sector and structural unemployment. Data from Germany … 1991 to 2008, indicate a positive impact of the growing low-wage sector on structural unemployment. Moreover, some …

and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … unemployment within the Phillips curve framework. Following the original problem formulation by Fisher and Phillips, the set of … the naive one by a factor of 2 to 3. The relationships for inflation were successfully tested for cointegration. We have …

demand and hysteresis. In the conclusion, some consequences for economic policy are indicated. …

demand and hysteresis. In the conclusion, some consequences for economic policy are indicated. …