-related variables accounts for changes (rises) in the Okun's parameter in the US in recent decades. Accordingly, the unemployment gap is …

This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment … European unemployment rates observed during the seventies. The explanation given is that even if the unemployment rate would … job creation remains low making the return to a low unemployment rate impossible. The paper shows that in some cases …

supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and in ation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … policy ; model uncertainty ; Bayesian model averaging ; unemployment gap ; Taylor rule …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … unskilled workers. Skill mismatch and skill-specific labour market institutions have three main effects on business cycles and … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the …

at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment … the unemployment rate displays time-varying volatility and skewness, with peaks coinciding with the Global Financial … risk defined as the possible joint event of large increases in the unemployment rate and large annual rates of inflation …

with a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

capable to generate business ßuctuations, driven by self-fulÞlling belief, characterised by unemployment persistence. A …