Equilibrium Rates and Wage Flexibility in Europe
This paper presents estimates of short-term and long-term equilibrium rates of unemployment. Estimates of equilibrium rates of unemployment in the literature often produce results that closely follow actual unemployment rates. This paper, in contrast, shows that in the past twenty years equilibrium rates may well have been substantially lower than actual unemployment rates in many European countries. This result indicates a considerable period of rather low wage flexibility and strong persistence.
|Date of creation:||Sep 2002|
|Date of revision:|
|Contact details of provider:|| Postal: ENEPRI c/o CEPS Place du Congrès 1 1000 Brussels Belgium|
Phone: +32 2 229 3911
Fax: +32 2 219 4151
Web page: http://www.enepri.org
More information through EDIRC
|Order Information:|| Postal: ENEPRI c/o CEPS Place du Congrès 1 1000 Brussels Belgium|
Web: http://www.enepri.org Email:
When requesting a correction, please mention this item's handle: RePEc:epr:enepwp:010. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CEPS)
If references are entirely missing, you can add them using this form.