Similar durations but lower flows into unemployment gave Europe lower unemployment rates than the United States until … the 1970's. But since 1980, higher durations have kept unemployment rates in Europe persistently higher than in the U.S. A … workers, hazard rates of gaining employment in Europe fall off sharply with the duration of unemployment, and why displaced …

This paper explores the interrelation between the degree of unemployment persistence and the unemployment … unemployment and making unemployment less persistent, the less effective will be the growth-promoting supply-side policies (such as … training schemes) in reducing unemployment. …

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer’s (2009) model in … which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states - employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …

Switzerland, traditionally a ‘zero unemployment’ economy, has seen an unprecedented rise in joblessness in the 1990s … although unemployment fell again to a rather low level after 1997. This Paper tests whether Switzerland experienced a negative … shock and find that they were rigid, which can explain the relative unemployment increase for this group. Finally, I test …

This paper evaluates two theories of unemployment: the natural rate theory (whereby unemployment is depicted as … fluctuating around a reasonably stable natural rate) and the chain reaction theory (which views movements in unemployment as the … contrasts sharply with the natural theory, which commonly views unemployment as approaching a natural rate determined solely by …

This paper views movements in unemployment as the result of the interaction between: (a) lags in labour market … decisions; and (b) labour market shocks with temporary and permanent components. Two features of unemployment dynamics are … examined: (i) `unemployment persistence', arising when temporary shocks have persistent effects on unemployment; and (ii …