Unemployment and Productivity in the Long Run : the Role of Macroeconomic Volatility /
We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based o...
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| Kolejni autorzy: | , |
| Format: | Czasopismo |
| Język: | English |
| Wydane: |
Washington, D.C. :
International Monetary Fund,
2010.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2010/259 |
| Dostęp online: | Full text available on IMF |