We analyze how wage setting institutions and job-security provisions interact on unemployment. The assumption that … exercises suggest that redundancy transfers and administrative dismissal restrictions have negligeable unemployment effects when … wages are flexible or when the minimum wage is low, but a dramatic positive impact on unemployment when there is a high …

The paper examines the employment and unemployment implications of permitting unemployed people to use part of their … unemployment benefits to provide employment vouchers to the firms that hire them. This opportunity to transfer unemployment … benefits into employment subsidies--quot;benefit transfersquot; for short--would help replace the unemployment trap by an …

. Unemployed workers' skill losses generate multiple steady-state unemployment rates. When monetary policy is constrained by the … permanent unemployment trap. Since monetary policy is powerless to escape such traps ex post, it must avoid them ex ante. The …

We analyze how wage setting institutions and job-security provisions interact on unemployment. The assumption that … exercises suggest that redundancy transfers and administrative dismissal restrictions have negligible unemployment effects when … wages are flexible or when the minimum wage is low, but a dramatic positive impact on unemployment when there is a high …