In the centuries leading up to the Industrial Revolution, Western Europe gradually pulled ahead of other world regions … explain the rise of Europe relative to regions that relied on the transmission of knowledge within extended families or clans …

-market recovery from financial crises is characterized by either higher unemployment ("jobless recovery") or a lower real wage … ("wageless recovery"). Second, inflation determines the type of recovery: low inflation (below 30 percent annual rate) is … associated with jobless recovery, while high inflation is associated with wageless recovery. The paper shows that this pattern of …

surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment …, all without any evidence of extra inflation. The results in this paper turn the conventional wisdom on its head. While the … over into extra inflation, leaving only 20 percent remaining for extra real GDP growth. Virtually 100 percent of the …

partial equilibrium estimates suggest that without a rise in zombie credit post 2012, annual inflation in Europe during 2012 … mechanism exploiting granular inflation and firm-level data from twelve European countries. In the cross-section of industries …

Econometric evidence suggests that the non-accelerating inflation rate of unemployment (the NAIRU) has risen sharply in … Europe in the past fifteen years. In the first section of this paper, I review the recent proliferation of supply-side models … that say interesting things about why the NAIRU hasincreased so substantially in Europe. In the second section of the paper …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the … impact of technical change on relative wages and unemployment in a world in which one country has flexible and the other …

This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a … global economy. It builds on the models of Davis (1997a, b) of trade between a flexible wage America and a rigid wage Europe …, technical change, and a productivity slowdown. We derive the consequences for the skilled-to-unskilled wage gap, unemployment …

Many low skilled jobs have been substituted away for machines in Europe, or eliminated, much more so than in the US …, while technological progress at the quot;topquot;, i.e. at the high-tech sector, is faster in the US than in Europe. This … paper suggests that the main difference between Europe and the US in this respect is their different labor market policies …

and Sweden). We conduct inference with mixed frequency data, combining quarterly series for unemployment, vacancies, GDP …, consumption, and investment, with annual data on unemployment flows. Parameters and shocks are estimated separately for each … country, which can then vary in terms of search and hiring costs, workers' bargaining power, unemployment benefits levels …