unemployment and wages in aggregate analysis. We do find, however, evidence of distributional effects when accounting for human …The vast literature on the effects of immigration on wages and employment is plagued by likely endogeneity and …

idiosyncratic risk increases during contractions in the labour market. Furthermore, we find evidence of insurance, both at the … household level and in the form of public insurance. However, private and public insurance mechanisms against an increase in …

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … national business cycles which, in turn, leads to higher unemployment risk. In order to counter-balance this effect, trade … unions lower their claims for wage mark-ups resulting in lower wage growth and lower unemployment. This paper uses …

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial … conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on … in labor and financial markets. We provide compelling micro-evidence of the unemployment accelerator: a 10% increase in a …

. Second, we apply it to test for breaks in the unemployment rate in the US, the UK and Japan. Our results shed some light on … the empirical relevance of alternative unemployment theories for these countries. Specifically, a structuralist …