search query: @author Roed, K. / total: 4
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| Author: | Roed, K. |
| Title: | Hysteresis in unemployment |
| Journal: | Journal of Economic Surveys
1997 : DEC, VOL. 11:4, p. 389-418 |
| Index terms: | HYSTERESIS UNEMPLOYMENT ECONOMICS |
| Language: | eng |
| Abstract: | After two decades of ratcheting unemployment in Europe, most economists agree that structural changes associated with higher equilibrium rates of unemployment have occurred. But the direction of causality is a matter of controversy: Have the structural changes caused the long-lasting increases in actual unemployment? Or have the increases in actual unemployment caused the structural changes? The latter possibility is often referred to as hysteresis. During the past decade, a distinct research program has evolved around the idea that equilibrium employment tracks actual unemployment. |
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