The Equilibrium Rate of Unemployment in the Netherlands

  title={The Equilibrium Rate of Unemployment in the Netherlands},
  author={Peter Niclas Broer and Nick Draper and Frederik Huizinga},
The rise in unemployment in the 1970’s and its subsequent persistence have challenged the conventional wisdom embodied in the standard Philli ps curve, namely that equili brium unemployment is fairly constant over time. This paper attempts to explain the apparent non-constancy of equili brium unemployment by developing and estimating a structural model in which equili brium unemployment is endogenous and results from the interactions of wage bargaining and the price and employment determination… CONTINUE READING
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