. We discuss estimation of impulse response functions and variance decompositions in such large systems, and present … through error spillover effects. Bootstrapped error bands are also provided for the cross country responses of a shock to the …

that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in … opposite directions while a shock to the net flow from not in the labour force to unemployment drives the rates in the same … interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market …

unemployment insurance scheme. We show that such immigration can create a negative immigration surplus due to adverse effects on …

challenges the two basic functions of the welfare state, redistribution and social insurance when private unemployment insurance … markets are missing. The main results are: (i) outsourcing raises unemployment and labor income risk of unskilled workers; (ii … welfare optimal redistribution and unemployment insurance policies …

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …

It has been noted that the search and matching model cannot account for the observed unemployment fluctuations. Gertler …

downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …