The aim of this paper is twofold: First, it provides an overview of the socio-demographic core modules of the dynamic microsimulation model microWELT. Second, it describes the essential socio-demographic characteristics of four European countries - Austria, Spain, Finland, and UK as...

The paper combines the short-run link between increases in aggregate demand and growth of GDP, which leads to a reduction in unemployment, with a definition of the equilibrium rate of unemployment that is independent of the growth rate. We first present evidence from the EU and the US that...