High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well … individual panel data for Germany and repeated cross-sectional data for the United States and the European Union show that the … sensitivity of subjective well-being to fluctuations in unemployment rates is much lower in the public sector than in the private …

This paper addresses the question of why high unemployment rates tend to persist even after their proximate causes have … persistence versus relatively high microeconomic labor market flow numbers. We calibrate the model for East Germany and examine …

more pronounced; and (ii) in Brazil, the introduction of inflation targeting by the Central Bank in 1999 shifts the focal … point of wage negotiations from changes in the minimum wage to expected inflation. These regime changes cast doubts on the …

flexibility has also affected how firms adjust employment in Germany. Using a rich microeconomic dataset, we show that firms with … the key driver of the unusually small increase in German unemployment in the Great Recession. …

peak at 12 months. 5) The probability of a wage change is positively correlated with the unemployment rate and with the … consumer price inflation rate. …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation-unemployment …

not provide a strong argument against low inflation targets. …