We develop a model which shows that wages, prices and real income should grow faster in countries with low increase in their labour force. If not, other countries experience growing unemployment and/or trade deficit. This result is applied to the case of Germany, which has displayed a...

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...

This paper uses the 2011 China Household Finance Survey data to estimate the effect of change in housing value on homeowners' labor force participation. Using the average housing capital gains of other homes in the same community as an instrument for the housing capital gains of a given...

We derive a non-standard unit root serial correlation formulation for intertemporal adjustments in the labor force participation rate. This leads to a tractable three-error component model, which in contrast to other models embeds heterogeneity into the error structure. Unlike in the typical iid...

Theoretical arguments and previous country-level evidence indicate that immigrants are more fluid than natives in responding to changing labor shortages across countries, skill-groups or industries. The diversity across EU member states enables us to test this hypothesis across various...

We explore future job creation needs under conditions of demographic, economic, and technological change. First, we estimate the implications for job creation in 2020-2030 of population growth, changes in labor force participation, and the achievement of plausible target unemployment rates,...

This paper explores the "disposable" patterns of workforce utilization in Italy, well under way before the cyclical downturn of the early 90's and before the main reforms of the Italian labor market. The term "disposable" reflects the fact that many young people enter the labor market, their...