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A Model of the Natural Rate of Unemployment
1986Since the publication of Edmund Phelps' volume, the "new" macroeconomics has treated the labor market as a dynamic process of rational search by unemployed workers for available vacancies. Wages are viewed as at least potentially flexible, though free contracting between workers and firms may lead to fixed wages in the short run.
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The natural rate of unemployment
2023The natural rate of unemployment hypothesis was a groundbreaking concept (Friedman & Phelps, 1967, 1968); however, with the introduction of the hysteresis hypothesis in unemployment rate (Blanchard & Summers, 1986) the existence of the natural rate is severely questioned by large number of economists.
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Money and the Natural Rate of Unemployment
2000The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents a revisionist view of monetary policy and monetary regimes.
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The Effect of Interest Rate Spraed on Unemployment Rates
2020Abstract: This study examines the long run relation between interest rate spread and unemployment rates of OECD countries over the period of 2005 and 2016. When explaining unemployment rate, we used some important financial variables such as long-term interest rates, money supply of M1 and stock exchange index beside spread.
KARA, Erkan, ÇANKAL, Erhan
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The natural rate of unemployment and the unemployment gender gap [PDF]
, 2011 Recent labour market developments include an increase in labour market mismatches, in that high unemployment rates coexist with significant levels of vacancies. This pattern is particularly evident in the US economy, but is also significant within the European Union; it implies that the natural rate of unemployment may rise significantly, thus ...
Maurizio Baussola, Chiara Mussida
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The distribution of unemployment by age and the unemployment rate: A puzzle? [PDF]
, 2008 This paper examines the effects of the distribution of unemployment by age on the level of unemployment. We provide an extension of the standard equilibrium unemployment model that allows for age dependent job finding probabilities and quit rates. In the empirical part of the paper we apply a panel estimator on data for a set of OECD countries to test ...
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The Natural Rate of Unemployment
1995For 25 years, theory about the causes of, and possible solutions to, the problem of unemployment has been dominated by Phelps' and Friedman's natural rate of unemployment hypothesis. This postulates that the equilibrium rate of unemployment consistent with steady inflation is determined by structural variables: sustainable reductions in unemployment ...
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Unemployment Rate and Divorce*
Economic Record, 2011This study investigates whether shifts in the unemployment rate affect the separation probability of married and cohabiting couples. Compared to the match quality shocks utilised in the existing literature, unemployment rate movements are plausibly exogenous and affect individuals through both actual as well as potential loss of a job.
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The Equilibrium Rate of Unemployment in the Netherlands
De Economist, 2000Broer, DP (Peter) +2 more
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