spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

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 …) is unlikely to achieve significant reductions in unemployment. Rather, labour market reform becomes particularly …

monthly employment and unemployment rates and the monthly transition intensities between the states of employment …, unemployment, and out-of-the-labor- force for the German labor market between January/February 1983 and November/December 1994. The …

This paper describes an equilibrium labour market in which an unemployment benefit system cannot raise the average … unemployment is high, but pays much lower rates in booms. By targeting unemployment compensation to recessions, when being … substantially reduces average unemployment. …

The paper presents a stochastic insider-outsider model that accounts for the following stylized facts: (1) unemployment … rates display a high degree of serial correlation, or `persistence'; (2) the average rate of unemployment has been higher in … long-run unemployment rate is independent of the level of productivity and the magnitude of the labour force. The model …

determined-duration contracts), which ease firing restrictions for some, but not all, workers. This paper discusses the effects … of EPL varying among workers of different skills on the level and composition of unemployment, job flows, productivity …

A new methodology is described which tests between various equilibrium theories of unemployment using matching data … identify a matching process using data which is recorded monthly, and also shows how to identify different unemployment … those vacancies come onto the market. In particular, these workers’ experience average durations of unemployment which …

workers, hazard rates of gaining employment in Europe fall off sharply with the duration of unemployment, and why displaced …Similar durations but lower flows into unemployment gave Europe lower unemployment rates than the United States until … the 1970's. But since 1980, higher durations have kept unemployment rates in Europe persistently higher than in the U.S. A …