This paper summarizes evidence for the existence of a wage curve a downward-sloping relationship between the level of pay and the local unemployment rate in modern micro data. At the time of writing, the curve has been found in 40 nations. Its elasticity is approximately -0.1. -- wage...

This paper focuses particularly on youth unemployment, why we should be concerned about it, why it is increasing again, how the present difficulties of young people entering the labour market differ from those of the past and what useful lessons have been learned that may guide future policy. We...

While economists were pointing out the advantages of the EU enlargement, politicians and policymakers were raising grave concerns about the significant political and economic differences between the newcomer states (EU12) and the "old Europe" of EU15. The major point of apprehension was related...

In this paper I assert that the entrepreneurial spirit can also exist in salaried jobs. I study the determinants of wages and the labor market success of two kinds of entrepreneurial women in Germany - self-employed and salaried businesswomen - and investigate whether ethnicity is important in...

This paper provides evidence for the existence of a wage curve - a micro-econometric association between the level of pay and the local unemployment rate - in modern U.S. data. Consistent with recent evidence from more than 40 other countries, the wage curve in the United States has a long-run...

Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters for wage growth are the non-employment rate and the...