Real wages in the United States have continued to stagnate in the years since the end of the Great Recession. This … paper attributes this stagnation directly to the prolonged period of high unemployment. It notes research showing that the … unemployment in the late 1990s. Given current economic and political trends, it is unlikely that we will again see a level of …

changes in aggregate demand, when inflation is rising and unemployment falling unexpectedly, also come with persistent long …-term effects on expected employment and labor force participation, suggesting positive hysteresis. Our forecast evaluation tests …

time, this paper estimates that U.S. workers will have lost over $1 trillion in wages and salaries, $150 billion more than …

unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … adjustment of real wages, removing disincentives for firms to hire and for workers to be employed, and improving the matching …

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. …

The Great Recession has left tens of millions of families facing unemployment, underemployment and the threat of losing …

increased unemployment by 61.0 per cent decrease in the variation in expected inflation associated with a unit change in the … variation between the potential and actual rates of unemployment over the study horizon, which confirms theoretical expectations …