This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …) past UK labour market shocks have prolonged after-effects on unemployment due to interactions among different lagged …

that current fiscal policy is also intertemporally balanced provided that the favourable present employment situation lasts …-boomers' retirement. The improvement of employment has played an important role in this situation. We extend the standard generational … accounting methodology incorporating tax and transfer age profiles by employment status. This permits us to analyse the possible …

real wages and low unemployment result. With an intermediate view, i.e. when partial equilibrium effects within a sector … are taken into account, high real wages and unemployment result. If all general equilibrium effects are considered at once …, low real wages and low unemployment again result. The assumption that unions and employers' federations are not able to …

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 …

evidence for the proposition that worksharing would promote employment or reduce unemployment. In an appendix we present an …Worksharing is considered by many as a promising public policy to reduce unemployment. In this paper we present a … conclusions of the literature survey are indecisive. Conclusions about the efficacy of worksharing as an employment enhancing …

bottom-line of the paper is that product market reforms will help to reduce aggregate unemployment under many circumstances … even though sectoral unemployment may increase. We also highlight that the mobility of high-skilled workers and the … distribution of unemployment across sectors determine whether productivity improvements in one sector affect aggregate unemployment …

unemployment into either new job or recall. The recall probability is allowed to affect the search intensity for new jobs. …