•Since 2000 Italy’s GDP growth has been below the Euro-area average, and total factor productivity growth has been very weak, and at times, negative (OECD, 2005)•The labour market is highly regulated and inflexible.•Italy has experienced high levels of immigration in recent years,...

Europe is a continent of cities with a remarkable history of cultural inspiration, wealth creation, social and politicaldynamism. But in the late-20th century, many former industrial cities entered a period of steep decline, losingmost of their manufacturing jobs and many of their economic...

Europe is a continent of cities with a remarkable history of cultural inspiration, wealth creation, social and politicaldynamism. But in the late-20th century, many former industrial cities entered a period of steep decline, losingmost of their manufacturing jobs and many of their economic...

Europe is a continent of cities with a remarkable history of cultural inspiration, wealth creation, social andpolitical dynamism. But in the late-20th century, many former industrial cities entered a period of steep decline,losing most of their manufacturing jobs and many of their economic...

This report was commissioned to help the Secretary of State for Communities and LocalGovernment “stand back and ask what role social housing can play in 21st Century housingpolicy”. Its aim is to provide the background and analytical framework against which theimplications of different...

This paper introduces staggered right-to-manage wage bargaining into a NewKeynesian business cycle model. Our key result is that the model is able to generatepersistent responses in output, inflation, and total labor input to both neutraltechnology and monetary policy shocks. Furthermore, we...

This paper addresses the large degree of frictional wage dispersion in US data.The standard job matching model without on-the-job search cannot replicate thispattern. With on-the-job search, however, unemployed job searchers are more willingto accept low wage offers since they can continue to...

Twenty-five years ago, in a small closed-down shop inHighbury, the idea of helping some people into workthrough their own bootstraps was tried out in some ofLondon’s poorest communities. It relied on the motivationand basic willingness to learn of people out of work and inneed. The missing...

We study an economy where agents are heterogeneous in terms of observablewealth and unobservable talent. Adverse selection forces creditors to ask forcollateral. We study the two-way interaction between rationing in the creditmarket and the wages offered in the labor market. Both pooling and...