such a partial reform of employment protection may be perverse. The main effect may be high turnover in fixed-duration jobs …, going through many spells of unemployment and fixed duration jobs, before obtaining a regular job. Looking at French data …, leading in turn to higher, not lower, unemployment. And, even if unemployment comes down, workers may actually be worse off …

Two key facts about European unemployment must be explained: the rise in unemployment since the 1960s, and the … heterogeneity of individual country experiences. While adverse shocks can potentially explain much of the rise in unemployment … institutions pre-date the rise in unemployment. Based on a panel of institutions and shocks for 20 OECD nations since 1960, we find …

We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications … for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first … unemployment in the constrained efficient allocation. We then focus on the implications of alternative real wage setting mechanisms …

of unemployment. It is this body of work we assess in this paper. We reach two main conclusions. First, there has been … think for example about the relation between technological progrss and unemployment. Second, empirical knowledge lags behind … countries. We look at two issues, the relation of wages to unemployment, and the risk of European unemployment …

interpretation for the dynamic inflation--unemployment relation found in the data …

In the 1970s, European unemployment started increasing. It increased further in the 1980s, to reach a plateau in the … 1990s. It is still high today, although the average unemployment rate hides a high degree of heterogeneity across countries …. The focus of researchers and policy makers was initially on the role of shocks. As unemployment remained high, the focus …

In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the … relations. In this paper, we examine the role this quality of labor relations has played in the evolution of unemployment across … relations have experienced higher unemployment. This conclusion remains even after controlling for labor institutions …

unemployment duration. In short, high employment protection makes economics more sclerotic; but because it affects unemployment …Over the last 15 years, Portugal and the United States have had the same average unemployment rate, about 6.5%. But … behind these similar rates hide two very different labor markets. Unemployment duration in Portugal is more than three times …

This paper starts from two sets of facts about Continental Europe.The first is the steady increase in unemployment … larger increase since the mid-1980s. The paper then develops a model of capital accumulation, unemployment and factor prices …. Using this model to look at the data, it reaches two main conclusions: The initial increase in unemployment, from the mid …

unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …