This paper studies the role of labor market institutions on unemployment and on the cyclical properties of job flows …. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine … the consequences of introducing an unemployment benefit, a firing cost and a downward wage rigidity. The simulations …

Institutions can affect individual behavior both via their efficiency impact and via their risk reducing mechanisms … simultaneously extant institutions. This paper presents a simple model of institutional choice in a labor market when there is a risk …

the detrimental effect of individual effort devoted to production in almost all situations. Furthermore, institutions …

first one reflects variations in the quality of institutions and the second encompasses variations in productivity levels …

provide the impetus to establish institutions which seek to enforce property rights. Institutions are shown to implement …

associated with inequality adversely affected the emergence of institutions that promote human capital accumulation. The research …

from institutions, and to some extent, geography, on long-run prosperity and TFP, may be thus explained. …

distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …