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Equilibrium Rates and Wage Flexibility in Europe. ENEPRI Working Paper No. 10, August 2002

Douven, R.C.M.H. (2002) Equilibrium Rates and Wage Flexibility in Europe. ENEPRI Working Paper No. 10, August 2002. [Working Paper]

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    Abstract

    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.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > employment/labour market > employment/unemployment
    EU policies and themes > EU institutions & developments > institutional development/policy > historical development of EC (pre-1986)
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 08 Jul 2004
    Page Range: p. 41
    Last Modified: 15 Feb 2011 17:20
    URI: http://aei.pitt.edu/id/eprint/1858

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