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

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment … the unemployment rate displays time-varying volatility and skewness, with peaks coinciding with the Global Financial … risk defined as the possible joint event of large increases in the unemployment rate and large annual rates of inflation …

ratio and the relatively generous unemployment benefit system. …

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 …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … policy ; model uncertainty ; Bayesian model averaging ; unemployment gap ; Taylor rule …