constant rate which is the higher, the lower are the labour tax rate and the unemployment rate. Both government Ponzi games and …, an increase in the debt-to-capital ratio is accompanied by higher taxes, a rise in unemployment and lower economic growth. …

unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and … consumption, more attractive. Less consumption is associated with less output and therefore higher unemployment. To the contrary … increase in unemployment. …

exacerbates unemployment. Our richer setting allows for generational differences in the motivations for job search to be reflected … in two distinct inverted U‐shaped relationships between unemployment and high‐wage employment, one for youth and a … different one for adults. In turn, the relationship between overall unemployment and high‐wage employment is shown to be non …

cut wage-related social security contributions to reduce unemployment. The analysis is carried out in an overlapping … generations model with endogenous growth, unemployment and a social security system comprising pensions and unemployment benefits …