Hysteresis and the European unemployment problem revisited
"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...
| Main Author: | |
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| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Frankfurt am Main
2015
ECB |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19100584124919287669-Hysteresis-and-the-european-un.htm |
| Summary: | "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." |
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| Physical Description: | 44 p. Digital |