. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on … theory. Real wage rigidities do not seem to play much of a role. This result is in line with our employed labor market model … ; macroeconomic volatility ; monetary policy ; firing costs ; unemployment benefits ; replacement rate …

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …

application, we discuss the lessons that can be learnt from observed changes in the nature of unemployment in Europe. We then …

response of unemployment to such shock if one allows for small deviation from rational expectations … countries, we find that non-technological news shocks explain a significant proportion of unemployment's variance in the medium …

The persistence of the employment shock by COVID-19 has various policy implications during the pandemic and beyond it … results show that while face-to-face services were undoubtedly hit hard by the COVID-19 crisis, the sectoral shock was less … suggest that targeted measures to mitigate the persistent effects of the employment shock should take priority during the …

major negative shock to the UK economy, with economic fallout in the rest of the OECD, particularly other European countries … not be incurred if the UK remained in the EU. The shock would be transmitted through several channels that would change …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …

law with a focus on the dynamic part of the relationship. We find that the negative relationship between unemployment and … misspecification of the short run unemployment-output relationship. A mixed lag structure indirectly controls for missing explanatory …

that such disturbances are important drivers of output fluctuations in both economies, we find the shock responses of …