, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of … changes in either labour taxes or in unemployment benefits to labours costs is larger the higher are those institutional … variables. The paper also considers the effects of those institutions on the choice of labour taxes and of unemployment benefits …

questions are investigated. First, what is the impact of exogenously given labour taxes and unemployment benefits on the choice … monopolistically competitive firms and through them on unemployment, inflation and welfare? Second, how are labour taxes and … unions that maximize the expected real income of union members over states of employment and of unemployment, a central bank …

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

We construct an overlapping generations model with unemployment risk where wages, employment and severance payments are …

In this paper we analyse the underlying causes behind Spanish unemployment which is now at 24%. We interpret this … labour market institutions. Our aim is to explain the main sources of shocks to unemployment, and the most relevant features …

equilibrium, thereby generating unemployment in the ‘East’. This slows the migration of human capital towards the East, but …

Labour market frictions are not the only possible source of high unemployment. Credit market imperfections, driven by … determination of equilibrium unemployment in the presence of credit market frictions both with exogenous and endogenous wages. We …

staggered nominal wage bargaining. We find that the estimated natural rate of unemployment is consistent with the NBER … description of the U.S. business cycle, and that the inflation/unemployment trade-off facing monetary policymakers is … unemployment gaps are more efficient than rules responding to output or unemployment growth rates, also in the presence of …