unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … unemployment rates to pre-shock levels. …

.14 percentage-point higher unemployment rate at ages 25-29 and 0.03 percentage points higher at ages 30-34. The persistence of this … worker who experiences a one-percentage-point higher unemployment rate while the worker is 16-24 years old has a 0 … rigidity is constructed and the index is shown to have positive correlation with the persistence. Moderating macroeconomic …

This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our … standard limit distribution. The empirical results suggest that the US unemployment rate can be specified in terms of a … real interest rates). We also find evidence of a long-memory component. Our results are consistent with a hysteresis model …

particular, rather than the mixed evidence for hysteresis found using unemployment rates, employment rates result in unequivocal …This paper investigates if conclusions regarding labour market hysteresis differ depending on whether employment or … unemployment rates are studied. Applying a range of unit-root tests to monthly data from Australia, Austria, Canada, Finland …

using a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

with a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … puzzle is highly misleading, relying on the exogeneity of the forcing variable (e.g. output gap, marginal costs, unemployment …

-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long …" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …, unemployment rate) and the assumption of a zero discount rate. We show that when the discount rate is positive in a general …

-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long …" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …, unemployment rate) and the assumption of a zero discount rate. We show that when the discount rate is positive in a general …

We develop a growth model with unemployment due to imperfections in the labor market. In this model, wage inertia and … equilibrium paths. Hysteresis is viewed as the result of a selection between these different equilibrium paths. We use this model … of the 1970?s may have played a central role in generating hysteresis. …