inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non …-accelerating inflation rate of unemployment (NAIRU), is used to measure inflationary pressure from the labour market. This paper examines … revisional property of the NAIRU is also examined, as well as the forecast capacity of the unemployment gap with regard to wages …

stock and flow data to understand key developments. We find dramatic changes in employment, unemployment and labour market …

fundamental role in shaping unemployment movements. Thisrole has generally been examined by considering indirect transmission …-equation unemployment rate models... …

The evolution of Spanish unemployment has been quite idiosyncratic. The full-employment levels of the early seventies … were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price … shocks. While unemployment was extremely persistent in most of the eighties and nineties, it experienced its sharpest decline …

increased flow into unemployment in a recession is mainly due to reduced hirings, and hence lower job-to-job transitions, rather …