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 …

The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions … of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy …’ ability to predict some salient stylized facts about unemployment behavior. The paper considers four types, of policies …