Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/20407
Authors: 
Junankar, P. N. (Raja)
Madsen, Jakob B.
Year of Publication: 
2004
Series/Report no.: 
IZA Discussion paper series 1168
Abstract: 
This paper compares models used to explain OECD unemployment. The models suggest that the ?natural rate of unemployment? has been driven up mainly by wage push factors. Panel data on twenty-two OECD countries are used to investigate the explanatory power of these models over the past two decades. Our estimates reveal that coefficients on key variables often turn out with signs which are at odds with the theories or are insignificant and that a second order autoregressive model performs nearly as well as all the other models. The conclusion offers some directions for future research.
Subjects: 
unemployment
natural rate
supply shocks
hysteresis
JEL: 
E24
J64
C52
Document Type: 
Working Paper

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