. The first part of this paper shows that increases in employment in Europe are likely to be associated with rising real …

. Results are presented for the U. S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The … primary theme of the paper is that differences between Europe and the U. S. have been substantially exaggerated in recent work …. Europe has neither greater nominal wage flexibility nor more rigid real wages than the U. S. Evidence that the U. S. exhibits …

rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we … been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and … Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this …

The paper compares migration policy and welfare state generosity between America and Europe. There is more selective … may explain in part these US-Europe differences in policies …

differences in labor market dynamics observed between the two sides of the Atlantic and within Europe. Our estimates indicate that … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger …

I develop a version of the New Keynesian model with insider-outsider labor markets and hysteresis that can account for … fails to deliver, with the gap between the two increasing in the degree of hysteresis. Two simple targetiing rules are shown …