Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

We analyze how wage setting institutions and job-security provisions interact on unemployment. The assumption that … exercises suggest that redundancy transfers and administrative dismissal restrictions have negligeable unemployment effects when … wages are flexible or when the minimum wage is low, but a dramatic positive impact on unemployment when there is a high …