Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …

In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent … contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring … overemployment or to under-employment compared with the first-best. On the other hand, in Stole and Zwiebel?s theory of intrafirm …

The Mortensen-Pissarides model with unemployment benefits and taxes has been able to account for the variation in … unemployment rates across countries but does not explain why geographical mobility is very low in some countries (on average, three … times lower in Europe than in the U.S.). We build a model in which both unemployment and mobility rates are endogenous. Our …

labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching …This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages …

little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …

In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent … contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring … over-employment or to under-employment compared with the first-best. On the other hand, in Stole and Zwiebel’s theory of …

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

We investigate the role of spatial frictions in search equilibrium unemployment. For that, we develop a model of the … interaction between land and labor markets, and decompose the equilibrium unemployment rate into two parts: a pure non-spatial one …