capacity shortages cannot be the direct and single cause of unemployment persistence. Inferring from this observation that low … investment rates play no role in explaining the persistence of high unemployment rates may however fail to take into account the … analyse the determinants of equilibrium unemployment (the NAIRU), provided one takes explicitly into account the effect of a …

This paper reexamines the existence of a long-run relationship between wages and unemployment in the U.K., with data … and the unemployment rate. However, the main impact of deviations from this long-run equilibrium is on the unemployment …

This paper examines the determinants of equilibrium wage and unemployment rates in Belgium within the framework of a … this stage is then used to estimate a three-equation econometric model explaining the wage share, the unemployment rate and … the capital gap. The slowdown in world trade is depicted as the most important factor explaining the rise in unemployment …