protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment … the unemployment rate displays time-varying volatility and skewness, with peaks coinciding with the Global Financial … risk defined as the possible joint event of large increases in the unemployment rate and large annual rates of inflation …

Differences in regional unemployment in post-communist economies are large andpersistent. We show that inherited … variation in human-capital endowment across the regionsof four such economies explains the bulk of regional unemployment …