with a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

using a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … puzzle is highly misleading, relying on the exogeneity of the forcing variable (e.g. output gap, marginal costs, unemployment …

-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long …" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …, unemployment rate) and the assumption of a zero discount rate. We show that when the discount rate is positive in a general …

-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long …" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …, unemployment rate) and the assumption of a zero discount rate. We show that when the discount rate is positive in a general …

In this paper, we identify demand shocks that can have a permanent effect on output through hysteresis effects. We call … employment and investment, although output per worker is largely unaffected. We find strong evidence that hysteresis transmits … through a rise in long-term unemployment and a decline in labor force participation and disproportionately affects the least …

We develop a growth model with unemployment due to imperfections in the labor market. In this model, wage inertia and … equilibrium paths. Hysteresis is viewed as the result of a selection between these different equilibrium paths. We use this model … of the 1970?s may have played a central role in generating hysteresis. …

case of female unemployment and the degree of persistence is higher in the cases of female and youth unemployment series …In this paper we have examined the unemployment rate series in Turkey by using long memory models and in particular … employing fractionally integrated techniques. Our results suggest that unemployment in Turkey is highly persistent, with orders …

lose skill and are expensive to retrain, generating multiple steady state unemployment rates. Large temporary shocks push …, reducing hiring and catapulting the economy toward the high-unemployment steady state. Even after a short-lived liquidity trap …, the economy recovers slowly at best; at worst, it falls into a permanent unemployment trap. Because monetary policy may be …