We show that unexpected price level movements generate sizable wealth redistribution in the Euro Area (EA), using …

We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence of … structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECs' unemployment presents features of …

alternative monetary rules on unemployment dynamics in the euro area and the US. We use the inflation forecasts of 8 competing …

paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …

This paper studies unemployment and vacancy developments in the euro area at the aggregate and country level over the … employment losses, especially in some sectors. The extent to which the rise in unemployment and particularly long …-term unemployment reflects growing mismatch across euro area labour markets is one of the biggest questions facing euro area labour …

This paper examines the usefulness of the Okun relationship as a “rule of thumb” for predicting changes in unemployment … differential reaction of unemployment to changes in the various expenditure components of GDP - significantly enhances the capacity … of the Okun relationship (in comparison to the aggregate “rule of thumb”) for predicting movements in unemployment. The …