Abstract
Abstract.In the light of criticism of the failure of “mainstream” economics to predict and avert the global financial and economic crisis, the authors use panel data on 11 Eurozone countries for the period 2007–10 to investigate how two of the “traditional” tools of labour economics and macroeconomics – the Beveridge and Phillips curves – perform empirically under the “stress test” of global economic crisis. After confirming the reliability of these textbook relationships between unemployment and vacancy ratios, and unemployment and inflation, respectively, they explore the correlation between inflation and vacancies. Their findings on all three relationships highlight the complementarity of supply‐side and demand‐side policies to reduce unemployment.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
