could, over the medium term, result in relatively high levels of unemployment. Unless mobility is stimulated, European … of relatively significant structural rigidities in the labour market. It is argued that mobility rates of this magnitude … mobility presented in the second part of the paper offers a first step to identifying the demographic, economic and social …

two members. Households face unemployment risks but their members adjust their labor supplies to insure against … unemployment. We use the model to explain the cyclical properties of aggregate employment and participation. As in the US data, the … household against unemployment risks. …