Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures...

Although the size of the labor force is nearly acyclical, worker flows between employment and unemployment on the one hand and inactivity on the other hand fluctuate significantly over the business cycle. After reviewing these facts, this paper lays out a job-search model to uncover the...

The paper examines why the pandemic recession hit the labour market in Slovakia differently from previous recessions. Traditionally, the unemployment rose sharply during previous economic recessions. Therefore, it seemed like a novelty when the unemployment rate rose only insignificantly in a...