Joan Muysken


Full employment does not mean low unemployment

The authors of this paper argue that the claim by the previous government that inflation fears were a reflection of a strong labour market are erroneous. They estimate a new Phillips curve which shows how underemployment now influences price inflation.

Involuntary unemployment: getting to the heart of the problem

Bill Mitchell and Joan Muysken explore the evolution of economic theory from a construction of unemployment as a voluntary optimal state to the 1930s conception as a systemic failure (involuntary) to the resurgence in current times to a belief that all unemployment is voluntary. This...

Long-term unemployment as a screening device and its consequences for active labour market policies

Using a stochastic job model, Riccardo Welters and Joan Muysken show that employers use employment status as a screening device to minimize hiring costs. The implied exclusion of long-term unemployed in hiring decisions might lead to market failures. These market failures can be corrected by...
Working paper

Why aggregate demand matters for understanding unemployment

This paper by William Mitchell and Joan Muysken compares the employment and unemployment experience of the Australian and Dutch economies over the last 25 years.