Why is Unemployment so High At Full Capacity? : The Persistence of Unemployment, the Natural Rate, and Potential Output in the Federal Republic of Germany /
The empirical analysis indicates that in the Federal Republic the unemployed primarily influence the relationship between the level of real wages and productivity, rather than the growth of wages. This result suggests a distinction between an equilibrium natural rate of unemployment, which is estima...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1990.
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| Series: | IMF Working Papers; Working Paper ;
No. 1990/101 |
| Online Access: | Full text available on IMF |