Portugal, Pedro; Blanchard, Olivier - In: American Economic Review 91 (2001) 1, pp. 187-207
Behind similar unemployment rates in the United States and Portugal hide two very different labor markets. Unemployment … duration is three times longer in Portugal than in the United States. Symmetrically, flows of workers into unemployment are … Portugal. High employment protection makes economies more sclerotic; but because it affects unemployment duration and worker …