This paper investigates a dynamic general equilibrium model with search. In particular, search externalities are reßected by an increasing returns to scale matching function, which may imply an indeterminate equilibrium. Hence, the model is capable to generate business ßuctuations, driven by...

This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment rate) in which equilibrium selection is not conditioned on a sunspot variable. Instead, large enough shocks initiate unavoidable transitions from one regime to the other. The...

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...

Youth unemployment policy has tended to focus on two groups: young people with low educational attainment and those with higher education who have failed to find work. However, there is a large group of middle attainers who tend to be overlooked by policy – young people who have completed...

The main aim of the workshop was to examine the rise in the number of young people with disabilities. In many EU Member States, there is increasing policy concern about the growing numbers of young people who are entering long-term disability schemes. It appears that the nature of the illnesses...

In light of the impact of the recent negative developments in the labour market on young people, EU Member States have in recent years been actively engaged in designing and implementing policy measures targeted at young people. In the context of its 2011 work programme, Eurofound carried out an...

This compilation of briefing notes regroups experts' contributions prepared and presented as a background for a public hearing that took place in the Committee on Employment and Social Affairs (EMPL) of the European Parliament on 17 March 2010. The focus was put on analysing the main challenges...

We study the relative effect of venture capital and bank finance on large manufacturing firms in local U.S. markets. Theory predicts that with venture capital, the firm size distribution should become more stretched-out to the right, but it’s ambiguous on the effect of banks on large firms....