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protection legislation and unemployment benefits. Estimates based on local projections find negative short-run effects of …
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volatility of output, inflation and unemployment. These results stand in contrast to theories attributing to excessive regulation … for the rise and persistence of European unemployment. In addition, they suggest that labour market frictions are at most …
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include payroll tax cuts, unemployment benefits cuts, aggregate demand expansion and wage subsidies. It is shown that with …
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There is a widespread perception among the public and policy-makers that EMU carries one-way pressures for enhanced flexibility in the labour market. We discuss the theoretical basis of this by examining four mechanisms through which the establishment of the common currency and the functioning...
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