in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model …

to reduce the currently high unemployment among the low-skilled dramatically. Among the high-skilled, scarcities will …

interact to determine unemployment by estimating a dynamic panel model using the system generalized method of moments (GMM). We … as well as decreased banking concentration reduce unemployment if the level of labour market regulation, union density …

inflation, a finding that is at odds with the assumption of constant indexation parameters in most New-Keynesian DSGE models. We … response to aggregate shocks and monetary policy. We show that workers index wages to past inflation when output fluctuations … are primarily explained by technology and permanent inflation-target shocks, whereas they index to trend inflation when …