Hysteresis and the European unemployment problem revisited
Book
ECB - Frankfurt am Main
2015
44 p.
business cycle ; unemployment ; wages
Unemployment
English
Bibliogr.
"The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some shocks have permanent effects on that variable. I explore possible sources of this nonstationarity through the lens of a New Keynesian model with unemployment, and assess their empirical relevance."
Digital
The ETUI is co-funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the ETUI.