calibrated. The model is used to look at possible explanations for the recent sharp decline in the UK working-age unemployment … different shocks considered, the most plausible combination consists of a significant reduction in unemployment benefits …

unemployment and wages in aggregate analysis. We do find, however, evidence of distributional effects when accounting for human …The vast literature on the effects of immigration on wages and employment is plagued by likely endogeneity and …

not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters … to maintain their real wages by reducing labor demand still further. Furthermore, we argue inflationary pressures have …