dc.contributor |
Xarxa de Referència en Economia Aplicada (XREAP) |
dc.contributor.author |
Karanassou, Marika |
dc.contributor.author |
Sala, Héctor |
dc.contributor.author |
Snower, Dennis J. |
dc.date.accessioned |
2009-01-07T09:04:45Z |
dc.date.accessioned |
2021-01-20T16:46:44Z |
dc.date.available |
2009-01-07T09:04:45Z |
dc.date.available |
2021-01-20T16:46:44Z |
dc.date.issued |
2006 |
dc.identifier.uri |
http://hdl.handle.net/2072/13061 |
dc.format.extent |
36 p. |
dc.format.extent |
1440787 bytes |
dc.format.mimetype |
application/pdf |
dc.language.iso |
eng |
dc.publisher |
Xarxa de Referència en Economia Aplicada (XREAP) |
dc.relation.isformatof |
Reproducció digital del document publicat en format paper |
dc.relation.ispartofseries |
CREAP;2006-15 |
dc.rights |
Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i la xarxa i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
dc.subject.other |
Atur |
dc.subject.other |
Creixement econòmic |
dc.subject.other |
Efectes de la inflació sobre l'atur |
dc.subject.other |
Mercat de treball |
dc.title |
The Macroeconomics of the labor market: three fundamental views |
dc.type |
info:eu-repo/semantics/workingPaper |
dc.subject.udc |
33 - Economia |
dc.subject.udc |
331 - Treball. Relacions laborals. Ocupació. Organització del treball |
dc.description.abstract |
We distinguish and assess three fundamental views of the labor market regarding the movements in unempoyment: (i) the frictionless equilibrium view; (ii) the chain reaction theory, or prolonged adjustment view; and (iii) the hysteresis view. While the frictionless view implies a clear compartmentalization between the short- and long-run, the hysteresis view implies that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the problems faced by these conceptions in explaining the diversity of labor market experiences across the OECD labor markets. We argue that the prolonged adjustment view can overcome these problems since it implies that the short, medium, and long runs are interrelated, merging with one another along an intertemporal continuum. |