up to 29 years. I find that high and progressive labour taxes and generous unemployment benefits amplify labour income …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment …

cover pandemics have a change in trend and persistence in growth, and in level and persistence in unemployment. We find that … in recent times seem to have a permanent effect on growth. Moreover, our results show that the unemployment rate … timely counter-cyclical policies to soften the shock of the pandemic. …

; unemployment ; welfare …

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment … over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …