The concept of the employment threshold plays an important role in the public discussion of unemployment. The …

theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the … round of monetary expansion in the EMU. -- monetary union ; German unification ; asymmetric shock ; current account …

allocative efficiency and apply our results to the implicit transfers generated by a potential European unemployment benefit … consumption as well as unemployment differentials. Following supply shocks, however, the cross-country transfer embodied in the … unemployment benefits is spent to a large degree on relatively inefficiently produced goods in the receiving countries. This …

that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to …

This paper painstakingly restores a vintage empirical model of unemployment determination by interacting shocks and … and turns of unemployment rates in Europe and elsewhere. …

warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone’s specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …

This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro …