A simple nonlinear dynamic model for unemployment: Explaining the Spanish case

Faria, J.R. and Leon-Ledesma, M.A. (2008) A simple nonlinear dynamic model for unemployment: Explaining the Spanish case. Discrete Dynamics in Nature and Society . ISSN 1026-0226. (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.1155/2008/981952

Abstract

Spanish unemployment is characterized by three distinct regimes of low, medium, and high unemployment and by a fast transition between them. This paper presents a simple nonlinear dynamic model that is able to explain this behavior with multiple equilibria and jumps describing the transition between equilibria. The model has only a small number of parameters capturing the fundamentals of labor markets and macroeconomic and institutional factors. The model is capable of generating unemployment dynamics that encompass the "unique" natural rate hypothesis, the structuralist hypothesis, and the hysteresis hypothesis. Copyright (c) 2008 J. R. Faria and M. A. Leon-Ledesma.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Suzanne Duffy
Date Deposited: 03 Jun 2010 14:40
Last Modified: 03 Jun 2010 14:40
Resource URI: http://kar.kent.ac.uk/id/eprint/15061 (The current URI for this page, for reference purposes)
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