haku: @author Madsen, J. / yhteensä: 3
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| Tekijä: | Madsen, J. |
| Otsikko: | General equilibrium macroeconomic models of unemployment: can they explain the unemployment path in the OECD? |
| Lehti: | Economic Journal
1998 : MAY, VOL. 108:448, p. 850-897 |
| Asiasana: | ECONOMICS UNEMPLOYMENT OECD |
| Kieli: | eng |
| Tiivistelmä: | Several theories which seek to explain the high and apparently persistent unemployment in the OECD countries over the past two decades have arisen within the framework of imperfections in the goods and labour markets. In this paper, the author estimates the extent to which the models of Phelps (1994), Layard and Nickell (1986) and Sarantis (1993), are able to explain the unemployment path of the OECD countries using annual data over the period 1960 to 1993. The theoretical set-up of the models is presented in section 1 and the empirical estimates are set out in section 2. |
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