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- W2912783558 abstract "In recent years a large theoretical and empirical literature has emerged on hysteresis in unemployment. This paper reviews the theoretical part of this literature, including the various insider-outsider models that have been advanced to explain hysteresis. The review finds that while the assumptions required to generate full hysteresis are somewhat extreme, a less severe form of hysteresis, called persistence, emerges quite readily from models with reasonable assumptions. The paper however questions the extent to which the recent experience of unemployment can be explained by this approach. JEL Classifications: E24, J6" @default.
- W2912783558 created "2019-02-21" @default.
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- W2912783558 date "2004-01-01" @default.
- W2912783558 modified "2023-09-25" @default.
- W2912783558 title "Hysteresis and Insider-Outsider Theory: A Literature Review" @default.
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