, we simulate the effects of this reform on unemployment, employment, and welfare. We estimate that the CNE will lead to … countries or reforms of employment protection laws. Using a model that captures the characteristics of the French labor market …

unemployment, including the sharp rise in U.S. long-term unemployment during the Great Recession of 2007-09. About 75% of the … forecast error variance of unemployment is accounted for by cyclical factors-real GDP changes (?Okun‘s Law?), monetary and … dispersion of industry-level stock returns, account for the remaining 25 percent. For U.S. long-term unemployment the split …

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory … generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise …-run unemployment over the 1980s and its rise during the late 2000s. …