world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment …, however, were rest of the world and uncovered interest rate parity shocks, followed by domestic non-fiscal shocks. …

We offer a decomposition for the variance of the current unemployment rate that not only measures the contributions of …

I calculate unemployment multipliers of fiscal consolidation policies in a standard, closed-economy New Keynesian … percentage of family firms in the labor force. I find that fiscal austerity raises unemployment. Both at peak and cumulatively …, unemployment reacts least when the budget is consolidated by increasing the rate of value-added tax. At peak, the highest increase …

. The effects of training programmes on the outflows from unemployment and the effects of all ALMP programmes on the … gives some tentative support to the view that public training programmes can be used to reduce unemployment. …

unemployment. Second, we construct a New Keynesian model with heterogeneous workers and firms, incomplete asset markets, and labor … level and volatility of both the separation and unemployment rate at the cost of tying workers to less productive firms …

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. …