protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …

Using new quarterly narrative evidence, this paper examines the macroeconomic impact of reforms of unemployment … benefits (UB) and employment protection legislation (EPL) in the euro area from a Bayesian narrative panel VAR. The approach …

supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and in ation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …

lower levels of liquid wealth. This supports the notion that the persistence of the unemployment shock is an important …

This paper studies the dynamics of unemployment (u) and its natural rate (u*), with u* measured by real-time estimates … for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same …

, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship … panel cointegration tests used allow for within and between correlation, while the SUR results show both positive and …We assess the cointegration relationship between current account and budget balances, and effective real exchange rates …

We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …