Hysteresis and the European Unemployment Problem Revisited

Jordi Galí

No 837, Working Papers from Barcelona School of Economics

Abstract: The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some shocks have permanent effects on that variable. I explore possible sources of this nonstationarity through the lens of a New Keynesian model with unemployment, and assess their empirical relevance.

Keywords: wage stickiness; New Keynesian model; unemployment fluctuations; Phillips curve; insider-outsider model (search for similar items in EconPapers)
JEL-codes: E24 E31 E32 (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-dge, nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.barcelonagse.eu/sites/default/files/837.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.barcelonagse.eu/sites/default/files/837.pdf [301 Moved Permanently]--> https://www.bse.eu/sites/default/files/837.pdf)

Related works:
Working Paper: Hysteresis and the European Unemployment Problem Revisited (2015)
Working Paper: Hysteresis and the European Unemployment Problem Revisited (2015)
Working Paper: Hysteresis and the European unemployment problem revisited (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:837

Access Statistics for this paper

More papers in Working Papers from Barcelona School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Bruno Guallar ().