August 1, 1999

Equilibrium rates and wage flexibility in Europe

Equilibrium rates and wage flexibility in Europe

Press release

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Spokesmen

Foto Rudy Douven
Rudy Douven +31 6 15589095 Read more
Dick Morks Read more

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.

Contacts

Foto Rudy Douven
Rudy Douven +31 6 15589095 Read more