Unemployment Persistence and the Unemployment-Productivity Relation

Dennis Snower

No 958, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper explores the interrelation between the degree of unemployment persistence and the unemployment-productivity trade-off. The analysis suggests that the more effective are structural labour market policies (designed to change labour market institutions and laws, such as job security legislation) in making wages and prices more responsive to current unemployment and making unemployment less persistent, the less effective will be the growth-promoting supply-side policies (such as training schemes) in reducing unemployment.

Keywords: Inflation; Productivity; Unemployment; Unemployment Persistence (search for similar items in EconPapers)
JEL-codes: E31 E32 J23 J31 J64 O50 (search for similar items in EconPapers)
Date: 1994-07
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