Hysteresis and the European Unemployment Problem Revisited

Galí, Jordi
Authors registered in the RePEc Author Service: Jordi Galí

No 10745, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The unemployment rate in the euro area appears to contain a signi?ficant nonstationary component, suggesting that some shocks have permanent e¤ects 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: Insider-outsider models; New keynesian model; Unemployment fluctuations; Wage phillips curve (search for similar items in EconPapers)
JEL-codes: E24 E31 E32 (search for similar items in EconPapers)
Date: 2015-08
New Economics Papers: this item is included in nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Working Paper: Hysteresis and the European Unemployment Problem Revisited (2015)
Working Paper: Hysteresis and the European unemployment problem revisited (2015)
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