This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the … calibrated to the U.S. shows that market incompleteness affects individual behavior and aggregate conditions: it reduces wages … and unemployment but increases vacancies. Additionally, the model explains the average level of unemployment insurance …

productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural … problems in its labor market, reflected in its high long–term and youth unemployment. Our analysis of the drivers of labor … percentage point a year. This would be enough to close the income gap with the EU average by 2040, compared to the status quo …

income shocks. The findings also yield a number of important caveats and policy considerations, however, that have largely … design policies that promote remittances and increase their benefits while mitigating adverse side effects. Getting these …

This paper examines the macroeconomic impact of migration on income convergence in the EU's New Member States (NMS … general equilibrium model. It finds that cross-border labor mobility provides ample benefits in terms of faster and smoother … convergence. Challenges, however, include containing wage pressures and better mobilizing and utilizing resident labor that does …

expectations to derive relatively substantial revenue from it. Offering this group a benefits package that is relatively smaller …

encourage individuals to retire earlier than the statutory full pensionable age. These incentives are stronger for low-income …