Christoffel, Kai; Costain, James S.; De Walque, Gregory; … - European Central Bank - 2009
belief that the slow responses of employment and unemployment to changes
in demand are a natural place to look for the … percentage terms), that employment rises signi�cantly, and
unemployment falls and, �nally, that most of the adjustment in labour … unemployment and
vacancies that do not match the data.
More generally, by analysing a wide range of institutional features of the …