In this study we examine the contribution of severance pay to employment and unemployment development using data on …-varying labor market institutions. While the positive effect of severance pay on unemployment garners some support, there is no real …

models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial … markets with bank-based financial markets as in Germany and Japan being possibly inferior to stockmarket based financial …

In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … persistence of unemployment. …

The development of the unemployment rate differs substantially between OECD countries. In recent years some countries … experienced a mild increase, other countries had a stable unemployment rate, while there are also 'successful' countries in which … the unemployment rate decreased a lot. A common feature of the successful countries is that they implemented a …

reducing unemployment compared to most continental European OECD countries. As a rule they have also been and are still ahead …

Labor and product market regulations affect the unemployment rate of a country without doubt. Econometricians, however … indicators are identified as significant determinants of unemployment. Endogeneity due to reverse causality is also considered by …

. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …

This paper deals with the effects of labour market institutions on unemployment in a panel of 19 OECD countries for the … of the unemployment rate. Our novel contribution is the estimation of panel models where we allow for heterogeneous … effects of institutions on unemployment. Our main results are that on the average a tighter employment protection, a higher …