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Inequality and Employment Sensitivities to the Falling Labour Share

Karanassou, Marika; Sala, Hector - School of Economics and Finance, Queen Mary - 2011

inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …

Persistent link: https://www.econbiz.de/10009141346

A Contribution to Unemployment Dynamics

Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1995

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...

Persistent link: https://www.econbiz.de/10005791454

Is the Natural Rate a Reference Point?

Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1996

This paper explores the two common concepts of the natural rate of unemployment: (i) the stable, long-run equilibrium rate of unemployment; and (ii) the equilibrium unemployment rate at which there is no tendency for this rate to change, given the exogenous variables. The first concept (common...

Persistent link: https://www.econbiz.de/10005136587

How Labour Market Flexibility Affects Unemployment: Long-Term Implications of the Chain Reaction Theory

Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1998

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 outcome of the interplay between labour market shocks...

Persistent link: https://www.econbiz.de/10005504680

Explaining Disparities in Unemployment Dynamics

Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1993

-run unemployment rate) and the lag structure of the employment determination, wage setting, and labour force participation decisions …

Persistent link: https://www.econbiz.de/10005114179

Unemployment in the European Union: Institutions, Prices, and Growth

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - School of Economics and Finance, Queen Mary - 2003

This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the interplay between these adjustment processes and the...

Persistent link: https://www.econbiz.de/10005106454