Bande Ramudo, Roberto; Karanassou, Marika - 2011
labour market equations, rather than a single-equation unemployment rate model, is better equipped to accommodate … unemployment dynamics, and (ii) due to the interplay of frictions and growth in labour markets, the NRU ceases to be an attractor … through time. Finally, we review our empirical labour market model for each group of regions and evaluate the corresponding …