, it delivers an expression for the employment rate and as side-products, a measure of the unemployment rate and the size … rationalizes differences in employment rates: in the U.S., we find a market productivity premium of +30% and market frictions of …

and employment. There is some evidence that short-time compensation programs stabilize permanent employment and reduce …

employment. The model incorporates the main features of many unemployment insurance and welfare programs, including eligibility …

will employment be affected? In addressing this question, we focus on the role of on-the-job training. We show that an … insider wage hike reduces recession-time employment but, in the presence of on-the-job training, increases boom …-time employment. Thus on-the-job training can make insider wage hikes less detrimental to average employment (over booms and …

insiders' capitalism that we describe, trough the costless appropriation of an intricate cobweb of Call-Put structures, has … two sides of the Warrant Economics coin. We argue that the Warrant Economics state of capitalism has been legitimised by a …

Despite a sequence of labor market reforms in recent years, employment of older workers in Germany is still lower than … inconsistent. Further reforms are needed to create better employment opportunities for older workers. This implies the abolishment …