generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise …We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory … in the variance of productivity growth. Evidence based on U.S. time series and on an international panel strongly …

The negative and stable relationship between an economy's aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …

detrimental medium-term effects on output, unemployment, poverty, and inequality. However, policies can go a long way toward … relatively greater fiscal support. The increases in unemployment, poverty, and inequality are likewise lower for countries with …

In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates … significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also … unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected …

unemployment by about 2.2 pp after five years. If sequencing is required, starting with PMRs would be more effective in boosting … output, while starting with LMRs would reduce unemployment faster. Finally, increasing unemployment benefits would be more …

time, industry-level analysis suggests ample scope to raise productivity, especially in services where productivity gains …

the growth in labor. If GDP is divided by labor, productivity growth appears to have been slower than in peers. This … chapter discusses both exogenous and endogenous factors behind the disappointing productivity growth in the Netherlands and …