This paper explores the optimal design of subsidies for hiring unemployed workers (?employment vouchers? for short) in … employment and unemployment, the analysis shows how the optimal policy depends on the rates of hiring and firing, and on the … unemployment benefits in optimal policy design. We calibrate the model and evaluate the effectiveness of employment vouchers in …

accounts: a retirement account (covering pensions), an unemployment account (covering unemployment support), a human capital … may be expected to play a substantial role in reducing unemployment, encouraging labour force participation, promoting …

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …