Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

driver of the unusually small increase in German unemployment in the Great Recession. One possible explanation is that firms …

renowned Danish miracle by evaluating their unemployment and inequality effects and their complementarities. We develop a … full Danish flexicurity set of policies (low employment protection, high unemployment benefits and workfare). Our results … show that implementing the Danish flexicurity concept in Germany would reduce unemployment and earnings inequality …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment … the rise in trend unemployment in Germany in the 1980s or for a possible rise in trend unemployment in the United States …

measure construction and technology busts) have little effect on the natural rate of unemployment or on long run productivity … of unemployment and can count for a 0.5% rise in cyclical unemployment from 2007 through the end of 2009 and 0.3% through …