This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment … European unemployment rates observed during the seventies. The explanation given is that even if the unemployment rate would … job creation remains low making the return to a low unemployment rate impossible. The paper shows that in some cases …

entire life courses. In recent years, labour market uncertainty and comparatively high unemployment rates have been major … attainment, with recent female labour market entrants being at parity or even exceeding those of their male counterparts in … benefit more strongly than women from these factors. A stricter employment protection legislation results in a slower …