The Persistence of Unemployment: Hysteresis in Canadian Labour Markets

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The deep recession and slow recovery of the Canadian economy in the 1980s and the lengthy recession of the early 1990s raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some economists to doubt the traditional view that the national economy is by nature self-correcting and to endorse the concept of hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis would have important and far-reaching ...

The Persistence of Unemployment: Hysteresis in Canadian Labour Markets 1995, McGill-Queen's University Press, Montreal

ISBN-13: 9780773513075

Hardcover

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