Publication
Jun 2007
This paper analyzes how much of the evolution of the unemployment rate over several decades in country can be explained by real factors in an equilibrium model of the natural rate where the country's productivity growth depends upon its distance from the world's technological leader. The authors develop the theory and seek to find out how much non-monetary factors can quantitatively account for the evolution of the unemployment rate.
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English (PDF, 41 pages, 338 KB) |
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Author | Hian Teck Hoon, Kong Weng Ho |
Series | Kiel Institute Working Papers |
Issue | 1347 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2007 Kiel Institute for the World Economy |