This paper investigates the consequences of skill loss as a result of unemployment in an efficiency wage model with …, this will result in a lengthy adjustment process with substantial long run unemployment effects. Moreover, the model is …

temporarily reduce unemployment and increase wages in periphery countries at the cost of somewhat higher unemployment in receiving …

The divergence of unemployment rates between the United States and Europe coincided with a substantial acceleration in … change. The proposed framework offers a novel explanation for the observed divergence of unemployment rates across economies … adoption. The results of the paper challenge the popular, but controversial, view that blames generous unemployment insurance …

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …