Smith, Ron P.; Zoega, Gylfi - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-22, pp. 1-29
estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market … institutions and we examine whether the global factor can act as a proxy for the natural rate in a Phillips Curve. In 15 out of the …