Labor market programs may affect unemployed individuals’ behavior before they enroll. Such ex ante effects may differ …

This paper investigates the implications of budgetary policies for consumption and economic growth. We present a model … a rise in government debt, financed by lump-sum taxes, increases the share of private consumption to national income and … reduces the long-run growth rate. We also show that a rise in government consumption financed by lump-sum taxes reduces both …

the recession and peaked at more than 1.5 million. Without the extensive use of short-time work, unemployment would have … been overcome and employment is strongly expanding, modified regulations governing shorttime work are still in place. This …

immigrants from outside of Europe for low-skilled jobs instead of competing with German natives. While Germany needs high …-skilled immigrants, our analysis suggests that the new EU8 immigrants only replace non-EU immigrants in low-skilled jobs. These results …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … to the failure of political parties to precommit to price stability, in the light of unemployment persistence. Elections … are associated with higher inflation, with the exception of the Thatcher period. There is no evidence that the Labour …

Germany. We establish that in the long run, high union membership levels coincide not only with a large labour force, but also … to workers. In the short run, union membership dynamics are mainly driven by changes in unemployment. In turn, changes in …

employment probability about two months after unemployment entry. We observe a significantly lower employment probability for … natives and second generation migrants. We analyze an inflow sample into unemployment in Germany, and find differences between …

recent differential unemployment persistence in our sample of countries: first, sluggishness in labour demand, and second …In this paper we present an investigation of unemployment persistence in Japan, the United States and fourteen European … economies. We concentrate on the sources of slow adjustment in the labour market, such as sluggishness in labour demand and …

We extend the `rational partisan model' of inflation and unemployment by introducing inflation and unemployment … stability. The greater aversion of `socialists' to unemployment results in an inflation rate which is higher by five percentage … points than under the more anti-inflationary `conservatives'. Unemployment seems to be independent of the identity of the …

natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …