The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … separately, including Phillips curve "level effects," hysteresis "change effects," the error-correction mechanism, and the role … estimates of the Phillips curve slope, of the hysteresis effect, and of the NAIRU. The two countries also share similar …

? The underlying idea is that unemployment hysteresis may operate through a sociological channel: if many people in the …

The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or … hysteresis effect - is quite popular among economists. However, because of an identification problem, much of the empirical … is argued that in a cointegration framework it is reasonable to define hysteresis as the absence of weak exogeneity of …

firm formation exhibit hysteresis, such that shocks, including those induced by temporary policy interventions, have … deterministic breaks. We also present results for the different Spanish regions and industrial sectors. We find that hysteresis is …

Germany) have been, in recent years, the subject of various theoretical and empirical studies. Several researchers have shown …