benefits of wage moderation. By isolating structural from cyclical factors in a panel of industrial countries, I show that … structurally slower real wage growth, that is, "wage moderation," does raise output growth and lower unemployment rates. However, I …Euro-area real wages have decelerated sharply in the last 20 years, but this has not yet translated into visibly lower …

methodology is applied to Polish micro data. The estimates confirm that wages are less elastic in a high-unemployment/low-wage …This paper reviews several methods to measure wage flexibility, and their suitability for evaluating the extent of such … flexibility during times of structural change, when wage distributions and wage curves can be particularly volatile. The paper …

labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …

protection and benefits between regular and nonregular workers could help put Japan's wages on an upward trajectory in the medium …Over the past decade, productivity-adjusted wages have grown at a slower pace in Japan than in other rich countries … felt in all advanced economies. Reforms aimed at increasing productivity in services and reducing gaps in employment …

-à-vis other countries can in part be explained by the quick implementation of an employment subsidy program, a more flexible wage …The Great Recession pushed Japan’s unemployment rate to historic highs, but the increase has been small by … the global financial crisis. Our findings suggest that: (i) employment responsiveness has been historically low but rising …

productivity in Algeria is associated with higher unemployment than the sample average, though recent positive terms of trade … unemployment is higher in Algeria than in other countries. The results are robust to various panel econometric methods and …

This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the … importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model … calibrated to the U.S. shows that market incompleteness affects individual behavior and aggregate conditions: it reduces wages …

The Spanish labor market is not working: the unemployment rate is structurally very high; wages are not very responsive … to labor market conditions, causing a high cyclicality of unemployment; and the labor market is highly dual. Compared … bringing the unemployment rate closer to the EU15 average. The key reform needed to reduce the share of temporary workers is …

by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional …Using panel data for 15 industrial countries, active labor market policies (ALMPs) are shown to have raised employment … variables. Among such policies, direct subsidies to job creation were the most effective. ALMPs also affected employment rates …