theoretical results are twofold. First, unemployment is lower under firm-level bargaining Second, introducing efficient opting …-out of sector-level agreements suffices to bring unemployment down to its level under decentralized bargaining. For an … archetypical contintental European calibration, we find that the unemployment rate is about 5 percentage points lower under frm …

Motivated by a strong degree of hysteresis in the stock of monetization observed after the end of hyperinflations, I … literature, I show that when hysteresis is possible, an orthodox fiscal-monetary reform that successfully stops a speculative …

UK or Germany, Spain has experienced since 1995 a drop in the returns to medium and tertiary education and, with a lag, a …