Hysteresis in Unemployment: Old and New Evidence
NBER Working Paper No. 14818
---- Acknowledgements ----
This paper was prepared for "A Phillips Curve Retrospective" sponsored by the Federal Reserve Bank of Boston in June 2008. I am grateful for research assistance from Sandeep Mazumder and for comments from V.V. Chari, Jordi Gali, Engelbert Stockhammer, two anonymous referees, and conference participants. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.