We document the presence of a trade-off between unemployment benefits (UB) and employment protection legislation (EPL …

unemployment insurance programs to alleviate. We tackle this question in a dynamic general equilibrium model with heterogeneous … an exogenous stochastic process matching key US data. The generosity of the unemployment insurance program is determined …

In the context of a standard equilibrium matching framework, this paper considers how a duration dependent unemployment … insurance (UI) system affects the dynamics of unemployment and wages in an economy subject to stochastic job-destruction shocks … recessions which stabilizes unemployment levels over the cycle …

In this paper I argue that most comparisons of the unemployment dynamics in the United States and Europe since the war … experiences in the two continents. Growth has a big impact on unemployment in econometric estimation. I use established estimates …

in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …

role to cross-country differences in social unemployment insurance institutions that Prescott argues can be safely ignored …

unemployment and vacancies of the magnitude observed in US data in response to shocks to average labor productivity of plausible … response of unemployment and vacancies to a shock to average labor productivity. In light of these properties, cast in terms of …

labor market models have a hard time generating the degree of cyclical volatility in unemployment and vacancies that is …, job destruction and unemployment. We start from the reasonable assumption that the disutility of effort (in our case the … the average unemployment rate. It is important to point out that in our paper, incorporating an incentive compatible wage …