The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the … disappointingly small effect of many past reform measures on unemployment; and the political difficulties in implementing more … implement broad-based reform strategies. Our analysis suggests that major unemployment policies are characterized by economic …

The paper examines the employment and unemployment implications of permitting unemployed people to use part of their … unemployment benefits to provide employment vouchers to the firms that hire them. This opportunity to transfer unemployment … benefits, `benefit transfers', would help replace the unemployment trap by providing an incentive to seek and provide jobs. The …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

labour market institutions (e.g. unemployment benefits, job security legislation and payroll taxes) have complementary … effects on unemployment; and thus (b) that policies aimed at reforming these institutions are also complementary. These policy … complementarities imply that partial labour market reform (directed at one institution, while leaving the other institutions in place …