, Nickell and Jackman's Unemployment: Macroeconomic Performance and the Labour Market. It is argued that the NAIRU has produced …Assesses the NAIRU framework for analysing the determinants of equilibrium unemployment, as expressed in Layard … plausible account of the determination of equilibrium unemployment. …

role of real interest rates in unemployment models, the importance of the trade balance and related constraints in open … economy models and the uniqueness and stability of unemployment equilibria.  …

, Nickell and Jackman′s Unemployment: Macroeconomic Performance and the Labour Market . It is argued that the NAIRU has produced …Assesses the NAIRU framework for analysing the determinants of equilibrium unemployment, as expressed in Layard … plausible account of the determination of equilibrium unemployment.  …

This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step …, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run … display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …