externalities and equilibrium unemployment. Our model incorporates endogenous labor force participation and two margins of … consumption and output; a marginal increase in the unemployment and labor force participation rates; and an expansion in the … accompanied by gradual gains in output and consumption and a negligible expansion in unemployment. Critically, abstracting from …

impact on public debt and the impact on other macroeconomic variables (unemployment and growth). The main results are the … have a statistically significant and negative effect on the current unemployment rate and a positive effect on the previous … period's unemployment rate. Intuitively this can be explained by noting that when privatization is announced the accompanied …