Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/3114
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dc.contributor.authorKaranassou, Marikaen_US
dc.contributor.authorSala, Héctoren_US
dc.contributor.authorSnower, Dennis J.en_US
dc.date.accessioned2009-01-28T14:28:21Z-
dc.date.available2009-01-28T14:28:21Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/3114-
dc.description.abstractThis paper examines the movements in EU unemployment from two perspectives: a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged lagged adjustment processes. We present an empirical analysis that distinguishes between unemployment movement arising from long-run equilibrium changes and those arising from lagged intertemporal adjustments. This analysis has far-reaching policy implications. Our analysis shows that the rise in the EU unemployment over the 1970s and first part of the 1980s was due largely to permanent shocks (especially the rise in the working-age population and the decline in capital formation), whereas the unemployment increase in the first part of the 1990s was due largely to temporary shocks (especially the fall in competiveness and the rise in real interest rates).en_US
dc.language.isoengen_US
dc.publisher|aDepartment of Economics, Queen Mary College |cLondon-
dc.relation.ispartofseries|aWorking paper series, Department of Economics, Queen Mary College, London |x480en_US
dc.subject.jelJ64en_US
dc.subject.jelE37en_US
dc.subject.jelE30en_US
dc.subject.jelJ60en_US
dc.subject.jelJ32en_US
dc.subject.ddc330-
dc.subject.keywordUnemploymenten_US
dc.subject.keywordnatural rateen_US
dc.subject.keywordNAIRUen_US
dc.subject.keywordlabor market shocksen_US
dc.subject.keywordemploymenten_US
dc.subject.keywordlabor force participationen_US
dc.subject.keywordwage determinationen_US
dc.subject.keywordintertemporal adjustmentsen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwNatürliche Arbeitslosigkeiten_US
dc.subject.stwSchocken_US
dc.subject.stwErwerbspersonenpotenzialen_US
dc.subject.stwEU-Staatenen_US
dc.titleUnemployment in the European Union: a dynamic reappraisalen_US
dc.typeWorking Paperen_US
dc.identifier.ppn377034460en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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