This paper delves into the recent events that led to the formation of the housing bubble in Spain and the resulting … with different equilibria descriptive of the labor markets in Spain and France, where the unemployment rates went from the … light on the performance of the Spanish labor market and the Spanish housing bubble. Our results suggest that the …

This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the … replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are "employment …

significantly reduces the initial response of the unemployment rate. In case of a temporary productivity shock, sticky wages imply …The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in … a highly indebted open economy. In contrast to the standard open economy framework, search unemployment and wage …

monetary policy. It covers several major macro-economic quantities, including unemployment rate, GDP, and weekly payrolls in … natural rate of unemployment and GDP growth comes out of the model naturally. An optimization framework is proposed to … first-order analytic solution is derived. We find that FED's interest rate policy has leaned heavily on the unemployment …