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Post World War II European welfare states experienced several decades of relatively low unemployment, followed by a plague of persistently high unemployment since the 1980s. We impute the higher unemployment to welfare states' diminished ability to cope with more turbulent economic times, such...

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It was early noted that the Phillips Curve explanation of wage dynamics lacks a solid microeconomic basis. As the explanatory unemployment variable in the Phillips relation is intuitively to be regarded as an indicator of labour scarcity, several authors have argued that the determination of...

How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive Phillips curve theories or uncorrelated, "as in the neo-liberals' view or are they positively correlated as Friedman suggested in his Nobel lecture? <p> In this paper inflation is...</p>

The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...

This work refers to analyses of matching processes on occupational labour markets in Germany. Up to now, all studies in this field are based on the crucial assumption of separate occupational labour markets. I outlined some theoretical considerations that occupational markets are probably not...

In this paper the effects of unemployment on mental health are analysed. A simple model where both the occurrence of and duration of unemployment are allowed to affect mental health is specified. Panel data are used to control for "fixed effects", i.e. omitted variables that are constant over...

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