In this paper we examine whether past labour market reforms aiming at reducing the rate of unemployment have raised its … Monte-Carlo techniques, we do not find any evidence of such policy trade-off. In contrast, we find that reduced unemployment … associated with a weaker persistence of unemployment over time, which implies a lower volatility of unemployment in the long run …

productivity gaps, except in the United States where it essentially resulted from a large increase in the unemployment gap. As … States, the large unemployment gap could also keep wage inflation under pressure despite a flattening Phillips curve. These …

play a vital role in the conduct of monetary and fiscal policy. Given that output and unemployment gap estimates are often …

model that features endogenous producer entry, equilibrium unemployment and costly job creation and destruction. Unlike in …, but some of them -- such as job protection reforms -- are found to increase unemployment temporarily. Implementing a broad …