-setting mechanisms and the cyclicality of unemployment in Euroland. We find that in the 1990s unemployment cyclicality has been higher in … still offer a convincing explanation for a significant part of Euroland's problem of persistently high unemployment. There …. -- unemployment ; wage-setting mechanisms ; European Monetary Union …

This paper investigates the consequences of pension reform for life-cycle unemployment and retirement. We find that (i …) improving actuarial fairness in pension assessment not only boosts old age participation but also reduces unemployment among … prime age workers and raises welfare; (ii) strengthening the tax benefit link boosts life-cycle labor supply on all margins …

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in … unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting … aggregate measures of unemployment responses to temporary and permanent shocks. These measures are temporal and quantitative …

largely unexplored, set of determinants of the effectiveness of Keynesian and supply-side economic policies. -- unemployment … ; employment ; wage setting ; labour force participation ; labour market dynamics ; unemployment persistence ; imperfect … unemployment responsiveness …

In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long … the permanent and transitory components for the movements of the unemployment rate in four countries (Austria, France, UK …, and USA). We find that the transitory component has a significant impact on unemployment only in the US. In contrast to …

of railroad infrastructure on regional GDP, population and firms growth in 99 Austrian regions. We evaluate the impact of … firms, population size, and employment. Eventually a ranking of these four projects is carried out for the first ten years …

and Blanchard (1994). Aghion and Blanchard only present an 'approximate' solution which entails a constant unemployment … rate in what they call a turnpike approximation. We show that optimal unemployment paths have two features. First …, unemployment is increasing up to a certain point in time, when, second, the remaining inefficient state sector is closed down. At …

reduction in fertility is not due to the income loss generated by unemployment but arises because displaced workers undergo a … slows down after the birth of a child and all specific human capital is destroyed upon job loss. -- fertility ; unemployment …

modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of … any wage-price surprises. Conventional thinking about the equilibrium unemployment rate assumes that in the long run NAIRU …-mechanisms" which could lead to permanent shifts of equilibrium unemployment over time, implying that an unique long run NAIRU may not …

We propose a bivariate structural time series framework to decompose GDP and the unemployment rate into their trend …