Haan, Wouter J. Den; Haefke, Christian; Ramey, Garey - Department of Economics and Business, Universitat … - 2004
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with obsolete skills. These workers refuse new jobs due to high unemployment benefits. In this paper we...