The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the … disappointingly small effect of many past reform measures on unemployment; and the political difficulties in implementing more … implement broad-based reform strategies. Our analysis suggests that major unemployment policies are characterized by economic …

. Unemployment insurance has the standard effect of reducing employment, but also helps workers to get a suitable job. The … predictions of our simple model are consistent with the contrasting performance of the labour market in Europe and the United … States in terms of unemployment, productivity growth and wage inequality. To show this, we construct two fictitious economies …

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …

This Paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks …. Our aim is to describe the transmission of income inequality into consumption inequality. Our framework nests the special …-sectional distribution of consumption growth, and analyse the way these two measures of household welfare correlate over time. We combine …

This paper sheds new light on the interactions between business cycles and the consumption distribution. We use CEX … consumption data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that … our approach is able to closely match business cycle fluctuations of consumption from the National Account. We then study …

This paper develops an analytical framework to study consumption and labour supply in a rich class of heterogeneous … equilibrium joint distribution over wages, hours and consumption. With these expressions in hand, we show that all the structural … wages and hours, and cross-sectional data on consumption. We estimate the model on CEX and PSID data for the U.S. economy …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that … incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for … the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non …

transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

lead to higher inequality across firms, increased segregation of labour markets and decreased within-firm inequality. This … Paper makes use of a new employer-employee-linked data set for Germany to examine the labour market effects of flexible …, however, that HPWOs affect their employment structure. …

focus on the control of the voting of agricultural workers by landlords and show that if the employment relationship is …