-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation … and cyclicality of wages to identify the two key parameters of the model - the value of non-market activity and the …

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 …

labor contract (Lazear 1990). We give empirical content to this proposition by estimating the effects of EPL on entry wages … of the reform on entry wages and a decrease of the returns to tenure by around 20% in the first year and by 8% over the …

lead price-setting firms to negotiate wage rates with their employees. The negotiation of wages substantially increases … which induce smooth inflation also dampen the adjustment of wages in response to shocks. In the search and matching … framework this is key for explaining the highly responsive nature of vacancies in the data. Another interesting finding for the …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation … and cyclicality of wages to identify the two key parameters of the model - the value of non-market activity and the …

lead price-setting firms to negotiate wage rates with their employees. The negotiation of wages substantially increases … which induce smooth inflation also dampen the adjustment of wages in response to shocks. In the search and matching … framework this is key for explaining the highly responsive nature of vacancies in the data. Another interesting finding for the …

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 …

All else equal, higher wages translate into higher inflation. More rigid wages imply a weaker response of inflation to … 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 …