During the last years, the developing regions have come under increased pressure by the developed countries, in particular the USA, to join the international effort in global greenhouse gas abatement. On the one hand, the participation of the developing regions would offer the developed world...

This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous time spent in search, Nash{bargained wages, payroll taxation, and...