Hysteresis, Nairu and Long Term Unemployment in Austria

Peter Neudorfer, K Pichelmann and Michael Wagner

Empirical Economics, 1990, vol. 15, issue 2, 217-29

Abstract: The paper analyzes hysteresis or persistence effects in Austrian unemployment using formal unit root tests and a simple macroeconometric model of wage-price formation. The empirical results point towards a considerable amount of persistence in unemployment generated by the rising share of long-term unemployed that has been associated with the increase in overall unemployment in Austria.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:spr:empeco:v:15:y:1990:i:2:p:217-29

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