Output and Employment Fluctuations

This book consists of four parts: I. Labour demand and
supply, II.               Productivity slowdown and innovative activity,
III. Disequilibrium and         business cycle analysis, and IV.
Time series analysis of output and            employment. It presents a
fine selection of articles in the growing field ofthe
empirical analysis of output and employment fluctuations
with         applications in a micro-econometric or a time-series
framework. The            time-series literature recently has
emphasized the careful testing for         stationarity and
nonlinearity in the data, and the importance                     of
cointegration theory. An essential part of the papers make
use of      parametric and non-parametric methods developed in
this literature and         mostly connect their results to the
hysteresis discussion about the            existence of fragile
equilibria. A second set of macro approaches use         the
disequilibrium framework that has found so much interest in
Europe   in recent years. The other papers use newly developed
methods for microdata, especially qualitative data or
limited dependent variables to study            microeconomic models of
behaviour that explain labour market and output      decisions.