A Simple Nonlinear Dynamic Model for Unemployment : Explaining the Spanish Case
Joint Authors
Faria, João Ricardo
León-Ledesma, Miguel A.
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2008, Issue 2008 (31 Dec. 2008), pp.1-11, 11 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2008-08-04
Country of Publication
Egypt
No. of Pages
11
Main Subjects
Abstract EN
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.
American Psychological Association (APA)
Faria, João Ricardo& León-Ledesma, Miguel A.. 2008. A Simple Nonlinear Dynamic Model for Unemployment : Explaining the Spanish Case. Discrete Dynamics in Nature and Society،Vol. 2008, no. 2008, pp.1-11.
https://search.emarefa.net/detail/BIM-513353
Modern Language Association (MLA)
Faria, João Ricardo& León-Ledesma, Miguel A.. A Simple Nonlinear Dynamic Model for Unemployment : Explaining the Spanish Case. Discrete Dynamics in Nature and Society No. 2008 (2008), pp.1-11.
https://search.emarefa.net/detail/BIM-513353
American Medical Association (AMA)
Faria, João Ricardo& León-Ledesma, Miguel A.. A Simple Nonlinear Dynamic Model for Unemployment : Explaining the Spanish Case. Discrete Dynamics in Nature and Society. 2008. Vol. 2008, no. 2008, pp.1-11.
https://search.emarefa.net/detail/BIM-513353
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-513353