We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

In this study we examine the contribution of severance pay to employment and unemployment development using data on …-varying labor market institutions. While the positive effect of severance pay on unemployment garners some support, there is no real …

models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial … markets with bank-based financial markets as in Germany and Japan being possibly inferior to stockmarket based financial …

In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … persistence of unemployment. …

The development of the unemployment rate differs substantially between OECD countries. In recent years some countries … experienced a mild increase, other countries had a stable unemployment rate, while there are also 'successful' countries in which … the unemployment rate decreased a lot. A common feature of the successful countries is that they implemented a …

We explore whether finance influences the impact of labour market institutions on unemployment. Using a data set of 18 … market variables to unemployment are affected by financial factors. In Belgium, Italy, Australia, Japan and Spain, accounting …

This paper compares models used to explain OECD unemployment. The models suggest that the ?natural rate of unemployment …

determine unemployment. We show that the impact of financial variables depends strongly on the labour market context. Increased … market capitalization as well as decreased banking concentration reduce unemployment if the level of labour market regulation … intermediated credit worsens unemployment when the labour market is weakly regulated and coordinated, whereas it reduces …

2008-2009 crisis. This paper discusses the efficiency of this type of policy and investigates its impact on unemployment … unemployment during downturns. All in all, it seems that short-time work programs used in the recent downturn had significant …

Does a country?s level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … unemployment on productivity growth heavily depends on the influence of human capital in the production function. In the … traditional Solow model, unemployment has neither an influence on long-run productivity growth nor on the long-run level of …