On the face of it, Austria’s labour market performs very well, which is reflected in one of the lowest unemployment … rates in the EU. However, while many of the euro area members have recently succeeded in reducing unemployment, the Austrian …. In addition the unemployment statistics are distorted by the relatively low labour force participation of older workers …

flows. Similarly, countries with higher unemployment benefits and more coordinated wage bargaining systems are characterised …

This study poses the question about whether labour market institutions can explain unemployment rates in the ten new … European Union member states. In five out of the ten new member states, unemployment rates lie above the average in the 15 … part of unemployment in the new EU member states. This does not mean that these countries have no labour market problems …

capable to generate business ßuctuations, driven by self-fulÞlling belief, characterised by unemployment persistence. A …