The paper discusses the flexicurity model, its key policy elements, and association with a low unemployment rate and a … high standard of social security for the unemployed. It provides details of an empirical analysis of unemployment …

labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …

. But Germany has almost equally consistently run current account surpluses. Exports have powered the dynamic phases and … delivery of services, will be good for Germany and for the global economy. Absent such an effort, German growth will remain … constrained, and Germany will play only a modest role in spurring growth elsewhere. …

where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate … increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers … (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession …

present resulting from the Great Recession of 2007–09. We assess the human cost of increased unemployment by surveying what …

differentiation and high regional unemployment differentials. The empirical literature has found that centralized wage bargaining … productivity and unemployment differentials. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …