compression lead to large welfare losses, since wage compression creates costly unemployment among low-skilled workers. This … unemployment. …

flexibility/rigidity of those rates is a determinant of unemployment, it seems reasonable to suspect that long-discovered systemic … differences in unemployment across groups with different degrees of schooling and experience (and, perhaps, across countries as …

reform is modeled as a structural change inducing a permanent shift in the flexible prices unemployment and output levels …

special system of unemployment assistance. The majority of the non-employed, including those aged 15-59, receive disability …

to close and the greater is the danger of credit booms and overheating. We argue that inflation targeting with floating … Maastricht inflation criterion which as currently defined has lost its economic logic. …

groups. If the rate of job destruction is sufficiently low, the unemployment rates can get close to steady-state values … during the transition. Within the realm of feasible scenarios unemployment differentials are basically determined by the … unemployment benefits and provision of direct support to the employers of low-productivity workers. …