An estimation of the natural rate of unemployment in Greece

This paper estimates the natural rate of unemployment for Greece over the 1983-2000 period. The results show a rising natural rate of unemployment. The rate increased from 5.0% in 1983 to 7.2% in 2000. The slowdown in productivity, the rising share of female workers with higher unemployment rates, a higher number of illegal foreign workers, and the problem of insider-outsider could be considered as potential contributors to the rising natural rate. (c) 2004 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.