"The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU. The labour macro literature tries to explain...

In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long-term by its equilibrium rate, which in turn is affected by permanent shocks of some exogenous variables. In our empirical approach we decompose the dynamics of employment and...

Many countries with generous social insurance are currently forced to cut back or modify their systems. At the same time many developing countries lack social insurance for large segments of the population. Health accounts may offer a way of implementing health insurance that keeps a lid on...