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 …

) to incorporate labor market hysteresis. This extension captures the idea that long and deep recessions (expansions) cause … financial crisis, compared to estimates without hysteresis. The smaller output gaps partly explain the absence of persistent …, hysteresis is expected to result in a structural improvement in growth and employment …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a …

below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than …

contractionary effect on output. The temporary growth slowdown translates into output hysteresis (permanently lower output and labor …

occurrence of shocks and hysteresis effects, the (mis-)measurement of important variables such as in ation expectations …

transition rates. We focus on hysteresis effects of the durations and incidence of previous spells out of work. We estimate … rates to work, and sometimes also from work. The quantitative magnitude of persistency and hysteresis effects on inequality …