How Labour Market Flexibility Affects Unemployment: Long-Term Implications Of The Chain Reaction Theory  

Oleh:

Karanassou, Marika ; Snower, Dennis J.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 108 no. 448 (May 1998), page 832-849.
Fulltext: 832.pdf (284.27KB)

Isi artikel

Much of the macroeconomic literature views unemployment as the sum of two separate, independent components, often called `cyclical' and `structural' unemployment. This decomposition is a salient feature of the natural rate theory. The high-frequency movements in unemployment are identi®ed as cyclical and are attributed primarily to errors in people's wage-price expectations or to intertemporal substitution, while the low-frequency movements are identi®ed as changes in the natural (or structural) rate of unemployment (NRU).

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali