costs influence insider wages and outsiders’ opportunities and how these costs affect employment and unemployment. We also … address the more complex, and open, question of how employment and unemployment move through time, in response to labor market …

labour market institutions (e.g. unemployment benefits, job security legislation and payroll taxes) have complementary … effects on unemployment; and thus (b) that policies aimed at reforming these institutions are also complementary. These policy …) is unlikely to achieve significant reductions in unemployment. Rather, labour market reform becomes particularly …

spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

same which knows more the precarious employment, the underemployment and the recurrent unemployment. Moreover, one observes …

In this paper, we consider the impact of displacement (defined as separation from a stable job due to firm closure) on …

The paper presents a stochastic insider-outsider model that accounts for the following stylized facts: (1) unemployment … rates display a high degree of serial correlation, or `persistence'; (2) the average rate of unemployment has been higher in … long-run unemployment rate is independent of the level of productivity and the magnitude of the labour force. The model …

Following the most recent recession, an attempt has been made to explain current levels of unemployment as resulting … from structural unemployment, or a mismatch between the skills of the unemployed and the types of jobs available. The … other will lead to very different policy solutions, it is important to accurately assess the cause of unemployment. This …

This paper views movements in unemployment as the result of the interaction between: (a) lags in labour market … decisions; and (b) labour market shocks with temporary and permanent components. Two features of unemployment dynamics are … examined: (i) `unemployment persistence', arising when temporary shocks have persistent effects on unemployment; and (ii …

This paper evaluates two theories of unemployment: the natural rate theory (whereby unemployment is depicted as … fluctuating around a reasonably stable natural rate) and the chain reaction theory (which views movements in unemployment as the … unemployment not only in the short run, but in the long run as well. The reason is that, in the presence of growing exogenous …